Commodity Prices

Gold •716 days	2,368.70	+35.30	+1.51%
Platinum •14 mins	1,668.20	-39.10	-2.29%
WTI Crude •2 hours	76.54	+0.69	+0.91%
Gasoline •2 hours	3.004	+0.009	+0.31%
Ethanol •716 days	2.161	+0.000	+0.00%
Silver •716 days	30.82	+1.16	+3.92%

Silver • 716 days	30.82	+1.16	+3.92%
Copper • 716 days	4.530	+0.111	+2.51%
Brent Crude • 1 hour	80.57	+0.72	+0.90%
Natural Gas • 2 hours	3.198	-0.035	-1.08%
Heating Oil • 2 hours	3.195	+0.067	+2.15%

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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