Commodity Prices

Gold •134 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	942.50	-1.50	-0.16%
WTI Crude •10 mins	67.84	-0.86	-1.25%
Gasoline •10 mins	1.958	-0.024	-1.21%
Ethanol •134 days	2.161	+0.000	+0.00%
Silver •134 days	30.82	+1.16	+3.92%

Silver • 134 days	30.82	+1.16	+3.92%
Copper • 134 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	71.68	-0.88	-1.21%
Natural Gas • 10 mins	2.712	-0.073	-2.62%
Heating Oil • 10 mins	2.186	-0.027	-1.21%

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AUD/USD: Bounce is Pushing Higher

By - Oct 11, 2012, 5:39 AM CDT

AUD/USD is bouncing after having tested its strong support at 1.0177. It is now challenging the hourly resistance at 1.0275 (05/10/2012 high).

A decisive break of the support at 1.0177 would confirm a bigger decline (see potential medium-term double-top).

The proximity of the long-term declining trendline, coupled with medium-term oscillators near overbought levels, favours a phase of weakness. Resistance at 1.0329 (26/09/2012 low, see also declining trendline).

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