Commodity Prices

Gold •369 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,389.50	+16.20	+1.18%
WTI Crude •10 mins	67.61	-0.32	-0.47%
Gasoline •10 mins	2.155	+0.003	+0.13%
Ethanol •369 days	2.161	+0.000	+0.00%
Silver •369 days	30.82	+1.16	+3.92%

Silver • 369 days	30.82	+1.16	+3.92%
Copper • 369 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	69.41	-0.17	-0.24%
Natural Gas • 10 mins	3.457	+0.045	+1.32%
Heating Oil • 10 mins	2.408	-0.013	-0.55%

Headlines

754 days Will The ECB Continue To Hike Rates?
754 days Forbes: Aramco Remains Largest Company In The Middle East
756 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,156 days Could Crypto Overtake Traditional Investment?
1,161 days Americans Still Quitting Jobs At Record Pace
1,163 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,166 days Is The Dollar Too Strong?
1,166 days Big Tech Disappoints Investors on Earnings Calls
1,167 days Fear And Celebration On Twitter as Musk Takes The Reins
1,168 days China Is Quietly Trying To Distance Itself From Russia
1,169 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,173 days Crypto Investors Won Big In 2021
1,173 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,174 days Food Prices Are Skyrocketing As Putin’s War Persists
1,176 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,177 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,180 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,181 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,181 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,183 days Are NFTs About To Take Over Gaming?

What's Behind The Global EV Sales Slowdown?

An economic slowdown in many…

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Is The Bull Market On Its Last Legs?

This aging bull market may…

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

More Info

Contact Author

AUD/USD Bearish Reversal Targets 1.0000

By - May 08, 2012, 5:41 AM CDT

Achieved First Objective. Stop lowered to breakeven, thereby ensuring a risk-free trade. AUD/USD remains bearish after extending beneath its 200-day average and now targets support at 1.0000.

Our cycle analysis continues to favour further weakness into the parity level and 0.9860 (15th Dec low).

Keep in mind that such a move signals a break from the multi-month distribution pattern and its 3-year uptrend.

Only a sustained close above 1.0490 and 1.0670 would put the bearish scenario on hold and target resistance at 1.0857 (29th Feb high).

Elsewhere, the AUD/NZD is completing a counter-trend rally, which is capped beneath its 200-day average (trading at 1.2842). Key support can be found at 1.2465 and 1.2360.

AUD/JPY remains weak, weighed down by a multi-week double top pattern. Any further mean reversion beneath 81.31/15 (TDST level/200-day average), would signal more unwinding of global risk appetite capital flows.

Daily Technical Report