A/U rallied well early-mid last week, breaking thru March-May trend, but then stalls, out of gas, to sink back under eow.
Oil & Cu contributing factors to the false break on daily, with Texas cascading down to 50% level of 2007-9 range. Cu retested Dec08-Oct11 upside resistance to then fall back onto trend connecting Jun09(H)-Jun10(L) with recent low set few weeks back.
Flip side are financials, EuroBanks running well breaking thru resistance, with successful backtests Thurs/Fri. Support at 130-.25/d, res mid 140s, currently 132.6.
USBanks staging few upside tests of 50dma, slight retrace Thurs taking it under rally trend from June low, however, jumped back thru to finish strongly. Could push thru 50dma briefly by ~couple % towards eow.
A/U currently at 38.2% of 2011 range, with trend up at 101.09 -.075/d.
AUD Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
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