Australian GDP came out below expectations, -0.5 vs. 0.2 forecast which caused some weakness on AUD. We have seen a drop to 0.7430 on AUDUSD while EURAUD is back above 1.4430. An updated wave count now shows idea of an ending diagonal in wave c-circled that can see a top near 1.4600 area. I would be interested to look for a short idea if we get an impulsive turn down from slightly higher prices.
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