• The AUD/USD pair surged higher on Wednesday as the pair got a lift by higher-than-expected Aussie inflation reading that dented chances of an interest rate cut by Reserve Bank of Australia.
   
• Consumer prices rebounded by more than forecast last quarter in Australia, while the annual pace of core inflation edged up for the first time in more than a year
   
• The Aussie performed strongly during the Asian sessions, but retreated in the US session after the release of US economic data.
   
• Currently the currency pair is trading around 0.7668 levels, it is set to advance further towards 0.7700 later towards 0.7730 levels in the short term.
   
• To the upside, immediate resistance can be seen at 0.7680, a break above this level would take the pair towards next resistance level at 0.7710.
   
• To the downside immediate support can be seen at 0.7640, a break below this level will open the door towards next level at 0.7600.
  
  
  Resistance Levels
  
  R1: 0.7680 (Session high)  
  
  R2: 0.7710 (61.8% Retracement level)
  
  R3: 0.7733 (Oct 20th high)
  
  Support Levels
  
  S1: 0.7640 (50% Retracement level)
  
  S2: 0.7600 (Psychological levels)
  
  S3: 0.7570 (38.2% Retracement level)