Commodity Prices

Gold •861 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,537.60	-0.90	-0.06%
WTI Crude •11 mins	86.44	-0.09	-0.10%
Gasoline •11 mins	2.602	-0.006	-0.22%
Ethanol •861 days	2.161	+0.000	+0.00%
Silver •861 days	30.82	+1.16	+3.92%

Silver • 861 days	30.82	+1.16	+3.92%
Copper • 861 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	92.70	-0.06	-0.06%
Natural Gas • 11 mins	3.233	+0.018	+0.56%
Heating Oil • 11 mins	4.216	+0.005	+0.12%

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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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