We are again presenting the day chart view for AUDUSD, since short term wave counts still not presenting a simple and clear wave count. Looking at the wave structure here, AUDUSD might have already completed 5 waves lower from 0.8133 levels through 0.7085 since January 2018. If this structure holds true, we could be witnessing a 3 wave corrective rally towards 0.7500/0.7600 levels, retracing the entire drop. A standard flat wave structure, expected to unfold earlier is invalid now since prices broke marginally below 0.7085 today. We could remain neutral for now and wait for a confirmation before initiating again.
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