• AUD/USD declined sharply on Wenesday as Australian dollar was weighed down less than expected inflation reading.
   
• The antipodean currency declined sharply, despite the broad dollar sell off across the board.
   
• Further upside is expected to be limited as pair has broken strong support at 0.7650 and is inching downwards.
   
• To the upside, the strong resistance can be seen at 0.7650, a break above this level would take the pair towards next resistance level at 0.7715.
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• To the downside immediate support can be seen at 0.7596, a break below this level will open the door towards next level at 0.7555.
  
  Resistance Levels
  
  R1: 0.7627 (50% Retracement level)  
  
  R2: 0.7650 (61.8% Retracement level)
  
  R3: 0.7715 (April 13th high)
  
  Support Levels
  
  S1: 0.7596 (38.2% Retracement level)
  
  S2: 0.7555 (23.6% Retracement level)
  
  S3: 0.7500 (Psychological levels)