Commodity Prices

Gold •709 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,712.20	+46.50	+2.79%
WTI Crude •17 hours	84.88	-2.83	-3.23%
Gasoline •17 hours	3.050	-0.052	-1.66%
Ethanol •709 days	2.161	+0.000	+0.00%
Silver •709 days	30.82	+1.16	+3.92%

Silver • 709 days	30.82	+1.16	+3.92%
Copper • 709 days	4.530	+0.111	+2.51%
Brent Crude • 16 hours	87.33	-3.05	-3.37%
Natural Gas • 17 hours	3.120	+0.033	+1.07%
Heating Oil • 17 hours	3.404	-0.109	-3.09%

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AUD/USD - Short Term Topping Formation in Place

By - Jul 06, 2012, 5:24 AM CDT

AUD/USD continues to exhibit short-term structure that suggests a degree of exhaustion, warning of a relapse lower. We now require some downside follow through to test the 1.0245 region, under which will confirm a false break higher.

We remain longer-term bearish and continue to view the current region as a reasonable entry zone.

In particular, focusing on the medium-term picture, we see the current region as being crucial to maintaining the negative structure from the 1.0857 high.

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