Commodity Prices

Gold •296 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	972.90	-7.40	-0.75%
WTI Crude •4 hours	63.02	+0.23	+0.37%
Gasoline •4 hours	2.119	+0.013	+0.63%
Ethanol •296 days	2.161	+0.000	+0.00%
Silver •296 days	30.82	+1.16	+3.92%

Silver • 296 days	30.82	+1.16	+3.92%
Copper • 296 days	4.530	+0.111	+2.51%
Brent Crude • 3 hours	66.87	+0.32	+0.48%
Natural Gas • 4 hours	2.937	+0.007	+0.24%
Heating Oil • 4 hours	2.167	+0.024	+1.10%

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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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