Chart of the day

AUDUSD is bouncing off the strong upside support of 0.6350. A confirmed bounce here and a break above 0.6450 would lead to an extension higher to 0.6700.

This is still viewed as the second wave pullback of the long-term upside five unless we see a break below 0.6350. In that case, an upside reversal can be invalidated

Long trade, You can open here with the stops below 0.6350. You can reverse to a short trade entry in case you are stopped out from a long trade. We favor the long trade entries as we expect an upside extension from this vital support at the completion of the Elliott Wave triple combo wave.