• AUD/USD inched higher on Tuesday as strong rebound in oil prices supported Aussie bulls.
   
• Much of the move was due strong rebound in oil prices after Wall Street rally boosted crude oil prices.
   
• Currently the pair is making an attempt to test support level at 0.9178.
   
• Further decline is expected to be limited as the pair finds strong support at 0.7100 which should limit downside and initiate rebound back towards higher side.
   
• To the upside, the strong resistance can be seen at 0.7178, a break above this level would take the pair towards next resistance level at 0.7226.
   
• To the downside immediate support can be seen at 0.7128, a break below this level will open the door towards next level at 0.7100.
  
  Recommendation: Go long around 0.7130, targets 0.7200, 0.72500, SL 0.7060
  
  Resistance Levels
  
  R1: 0.7178 (50% Retracement level)  
  
  R2: 0.7226 (38.2% Retracement level)
  
  R3: 0.7257 (Feb 25th high)
  
  Support Levels
  
  S1: 0.7128 (61.8% Retracement level)
  
  S2: 0.7100 (Psychological levels)
  
  S3: 0.7068(Feb 19th lows)