Commodity Prices

Gold •741 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,635.10	-7.60	-0.46%
WTI Crude •11 mins	80.17	+0.83	+1.05%
Gasoline •11 mins	3.271	+0.044	+1.35%
Ethanol •741 days	2.161	+0.000	+0.00%
Silver •741 days	30.82	+1.16	+3.92%

Silver • 741 days	30.82	+1.16	+3.92%
Copper • 741 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	85.64	+0.91	+1.07%
Natural Gas • 11 mins	2.922	+0.018	+0.62%
Heating Oil • 11 mins	4.024	+0.010	+0.24%

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AUD/USD: A Short-Term Double-Bottom is Likely in Place

By - Jul 10, 2013, 5:32 AM CDT

AUD/USD has successfully tested the support at 0.9037. Coupled with the breach of the hourly resistance at 0.9190 (03/07/2013 high), a shortterm double-bottom is likely underway. The upside potential is given by the resistance at 0.9345. An initial resistance lies at 0.9253 (01/07/2013 high).

In the medium-term, the break of the strong support at 0.9388 (04/10/2011 low) opens the way for a further medium-term decline. The break to the downside out of the long-term symmetrical triangle (see the daily chart) suggests a move towards 0.8236. Key supports are at 0.8771 and 0.8067. A significant resistance now lies at 0.9345 (26/06/2013 high).

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