• AUD/USD declined sharply on Tuesday as the Aussie was hit by dovish statement by Reserve Bank of Australia and weak commodities prices dragged the antipodean currency lower.
   
• Reserve Bank of Australia as expected kept its cash rate steady at record low 2.0percent after its monthly policy meeting earlier in the Asian session.
   
• The pair is set to remain under pressure  as weakness in commodity prices is set to weigh on the currency pair in the short term
   
• To the upside, the strong resistance can be seen at 0.7595, a break above this level would take the pair towards next resistance level at 0.7632.
   
• To the downside immediate support can be seen at 0.7518, a break below this level will open the door towards next level at 0.7490.
  
  Resistance Levels
  
  R1: 0.7557 (50% Retracement level)  
  
  R2: 0.7595 (61.8% Retracement level)
  
  R3: 0.7632 (April 4th high)
  
  Support Levels
  
  S1: 0.7518 (38.2% Retracement level)
  
  S2: 0.7490 (March 28th lows)
  
  S3: 0.4470 (23.6% Retracement level)