• AUD/USD lost some ground in the US session on Thursday as Australian dollar was weighed down by lower oil and stronger dollar across the board.
   
• Oil prices were down more than half a percent after hitting a six-month low on Thursday, remaining under pressure from high global inventories and fears that OPEC's agreed production cuts cannot offset rising production elsewhere.
   
• The dollar rose as solid readings on the U.S. economy helped strengthen the case for the Fed to continue tightening its monetary policy this year.
   
• However, the pair remains under bulls control unless until it trades above 0.7539 support level, therefore it is good to buy this pair on dips.
   
• To the upside, immediate resistance can be seen at 0.7591, a break above this level would take the pair towards next resistance level at 0.7624.
   
• To the downside immediate support can be seen at 0.7566, a break below this level will open the door towards next level at 0.7539.​
  
  Resistance Levels
  
  R1: 0.7591 (38.2% Retracement level)
  
  R2: 0.7624 (23.6% Retracement level)
  
  R3: 0.7661 (March 31st  high)​
  
  Support Levels
  
  S1: 0.7566 (50% Retracement level)
  
  S2: 0.7539 (61.8% Retracement level)
  
  S3: 0.7500 (Psychological levels)