Commodity Prices

Gold •361 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,381.80	+29.90	+2.21%
WTI Crude •10 mins	65.26	-0.26	-0.40%
Gasoline •14 mins	2.089	-0.001	-0.02%
Ethanol •361 days	2.161	+0.000	+0.00%
Silver •361 days	30.82	+1.16	+3.92%

Silver • 361 days	30.82	+1.16	+3.92%
Copper • 361 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	67.55	-0.22	-0.32%
Natural Gas • 10 mins	3.580	-0.159	-4.25%
Heating Oil • 2 hours	2.321	+0.014	+0.60%

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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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