Commodity Prices

Gold •673 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	2,054.20	-8.40	-0.41%
WTI Crude •1 day	89.83	-12.44	-12.16%
Gasoline •1 day	3.324	-0.297	-8.20%
Ethanol •673 days	2.161	+0.000	+0.00%
Silver •673 days	30.82	+1.16	+3.92%

Silver • 673 days	30.82	+1.16	+3.92%
Copper • 673 days	4.530	+0.111	+2.51%
Brent Crude • 1 day	98.33	-11.54	-10.50%
Natural Gas • 1 day	2.720	-0.068	-2.44%
Heating Oil • 1 day	3.612	-0.418	-10.38%

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AUD/USD: Yesterday's Bullish Reversal Alleviates Recent Bearish Concerns

By - Feb 27, 2014, 6:45 PM CST

AUD/USD made yesterday a bullish reversal pattern (hammer), negating part of the bearish outlook stemming from the head and shoulders. A break of the initial resistance at 0.8989 (intraday high) would call for a second leg higher. Another resistance lies at 0.9049 (24/02/2014 high). Hourly supports stand at 0.8904 (27/02/2014 low) and 0.8874.

The long-term technical pattern is negative and favours a further decline towards the key support at 0.8067 (25/05/2010 low), as long as prices remain below the resistance at 0.9168 (02/12/2013 high, see also the 200 day moving average).

Daily Technical Report