FxWirePro: AUD/USD runs out of steam but maintains bullish outlook

AUD/USD pair has made a short pullback to test 61.8% fib retracement level at 0.7415. Currently the pair is making an attempt to rebound back towards 0.7500 levels. 

• The pair is set to reach higher level, as the pair faces strongly support around 0.7415 levels As long the pair trades above strong resistance located at 0.7415 levels, the ongoing bullish trend for the pair is set to continue.
• To the upside, the strong resistance can be seen at 0.7540, a break above this level would take the pair towards next resistance level at 0.7616.
• To the downside immediate support can be seen at 0.7415, a break below this level will open the door towards next level at 0.7391.

Resistance Levels

• R1: 0.7479 (50% Retracement level)
• R2: 0.7540 (38.2% Retracement level)
• R3: 0.7616 (23.6% Retracement level)

Support Levels

• S1: 0.7415 (61.8% Retracement level)
• S2: 0.7391 (March 7th lows)
• S3: 0.7340 (March 4th lows)