• The Australian dollar declined strongly against US dollar on Friday following encouraging US economic data, dragging the pair all the way towards 0.7587 levels.
   
• Data on Friday showed that U.S. consumer prices gained for a fourth straight month in June, while retail sales also rose more than expected.
   
• Currently, the currency pair is trading around 0.7590 levels, it is set to decline further towards 0.7540 later towards 0.7500 levels in the short term.
   
• To the upside, the strong resistance can be seen at 0.7609, a break above this level would take the pair towards next resistance level at 0.7654.
   
• To the downside, immediate support can be seen 0.7570, a break below this level will open the door towards next level at 0.7534.​
  
  Resistance Levels
  
  R1: 0.7609 (38.2% Retracement level) 
  
  R2: 0.7654 (23.6% Retracement level)
  
  R3: 0.7700 (Psychological levels)​
  
  Support Levels
  
  S1: 0.7570 (50% Retracement level)
  
  S2: 0.7534 (61.8% Retracement level
  
  S3: 0.7470 (July 8th lows)