Commodity Prices

Gold •10 mins	2,405.80	+7.80	+0.33%
Platinum •10 mins	938.80	-15.70	-1.64%
WTI Crude •10 mins	82.96	+0.23	+0.28%
Gasoline •10 mins	2.705	-0.009	-0.32%
Ethanol •19 hours	2.161	+0.000	+0.00%
Silver •10 mins	28.60	+0.22	+0.78%

Silver • 10 mins	28.60	+0.22	+0.78%
Copper • 10 mins	4.477	+0.040	+0.90%
Brent Crude • 10 mins	87.18	+0.07	+0.08%
Natural Gas • 10 mins	1.748	-0.009	-0.51%
Heating Oil • 10 mins	2.548	+0.014	+0.56%

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AUD/USD: Bounce is Pushing Higher

By - Oct 11, 2012, 5:39 AM CDT

AUD/USD is bouncing after having tested its strong support at 1.0177. It is now challenging the hourly resistance at 1.0275 (05/10/2012 high).

A decisive break of the support at 1.0177 would confirm a bigger decline (see potential medium-term double-top).

The proximity of the long-term declining trendline, coupled with medium-term oscillators near overbought levels, favours a phase of weakness. Resistance at 1.0329 (26/09/2012 low, see also declining trendline).

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