• AUD/USD declined on Tuesday as selloff in global stocks sent investors to safe heaven assets like Japanese yen and Swiss franc.
  
  
• In the upcoming session, Australia will release Westpac Consumer Sentiment, which if negative, may send the pair back to its recent lows near the 0.6975 level.
  
  
• Further upside is expected to be limited as the pair finds strong resistance at 0.7108 which should limit upside and bring a decline towards lower levels.
  
  
• Technically in the 4 hours chart, the pair has extended its decline below its 20 SMA, whilst the RSI heading south at 46.
  
  
• To the upside, the strong resistance can be seen at 0.7176, a break above this level would take the pair towards next resistance level at 0.7242.
  
  
• To the downside immediate support can be seen at 0.7043, a break below this level will open the door towards next level at 0.7000.
  
  Recommendation: Go short around 0.7100, targets 0.7040, 0.6950, SL 0.7200
  
  Resistance Levels
  
  R1: 0.7108 (50% Retracement level)  
  
  R2: 0.7176 (61.8% Retracement level)
  
  R3: 0.7242 (Feb 4th high)
  
  Support Levels
  
  S1: 0.7043 (38.2% Retracement level)
  
  S2: 0.7000 (Psychological levels)
  
  S3: 0.6960 (Feb 3rd high)