Commodity Prices

Gold •646 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	2,055.30	-56.80	-2.69%
WTI Crude •11 mins	95.68	-2.19	-2.24%
Gasoline •11 mins	3.014	+0.014	+0.45%
Ethanol •646 days	2.161	+0.000	+0.00%
Silver •646 days	30.82	+1.16	+3.92%

Silver • 646 days	30.82	+1.16	+3.92%
Copper • 646 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	94.35	-1.57	-1.64%
Natural Gas • 11 mins	2.655	-0.015	-0.56%
Heating Oil • 11 mins	3.747	-0.190	-4.84%

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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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