Big E/U sell taking A/U to whithin wisker of daily downtrend starting in late Feb/early March, and just ~20pips from Jul11-Oct11 trend now at high 100.s
Brent intraday heavily sold to 110, but recovered to hold above GFC rally support's ~112.5. Texas not faring as well, due in part to US nat gas's sustained low prices, taking it down by 10% within three sessions, to settle in high 90s.
Solid equity buying starts at a low base as Europe opens, Eurofin begins its upward march. US brushing off Euro probs, further pushing all indices further taking Spx up to 38.2% retrace of May sell. More upside possible after ST counter-retrace, correlating with E/U target near 131, with A/U to take a shot at 2011's 50% retrace at 102.35
AUD Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
