Commodity Prices

Gold •135 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	945.10	+1.10	+0.12%
WTI Crude •2 hours	67.02	-1.68	-2.45%
Gasoline •2 hours	1.949	-0.032	-1.63%
Ethanol •135 days	2.161	+0.000	+0.00%
Silver •135 days	30.82	+1.16	+3.92%

Silver • 135 days	30.82	+1.16	+3.92%
Copper • 135 days	4.530	+0.111	+2.51%
Brent Crude • 1 hour	71.04	-1.52	-2.09%
Natural Gas • 2 hours	2.823	+0.038	+1.36%
Heating Oil • 2 hours	2.171	-0.041	-1.87%

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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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