Commodity Prices

Gold •383 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,485.60	-10.10	-0.68%
WTI Crude •1 hour	66.51	-0.69	-1.03%
Gasoline •10 mins	2.110	-0.022	-1.04%
Ethanol •383 days	2.161	+0.000	+0.00%
Silver •383 days	30.82	+1.16	+3.92%

Silver • 383 days	30.82	+1.16	+3.92%
Copper • 383 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	68.61	-0.60	-0.87%
Natural Gas • 14 mins	3.312	-0.013	-0.39%
Heating Oil • 11 mins	2.470	-0.039	-1.55%

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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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