Commodity Prices

Gold •273 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	989.30	-5.90	-0.59%
WTI Crude •10 mins	69.78	-1.93	-2.69%
Gasoline •10 mins	2.247	-0.084	-3.62%
Ethanol •273 days	2.161	+0.000	+0.00%
Silver •273 days	30.82	+1.16	+3.92%

Silver • 273 days	30.82	+1.16	+3.92%
Copper • 273 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	73.05	-1.90	-2.54%
Natural Gas • 10 mins	4.002	-0.053	-1.31%
Heating Oil • 10 mins	2.248	-0.074	-3.20%

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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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