Regardless of the knee-jerk reaction, from a technical perspective, we can see the initial decline also did not manage to break below the Channel bottom. Prices has tried once on the back of worse than expected Aussie GDP data, and also tried/failed a 2nd time during European trading yesterday. Currently AUD/USD is trading between H3 and H4 levels, which is also generally non-directional indicative. Similar to yesterday, this new price action does not make AUD/USD outright bullish as we are still trading below 1.023 (yesterday's high/confluence with Monday support level)
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