Today's interesting charts
Eoin Treacy's view US
Dollar per 1 Australian Dollar –
The Australian Dollar posted an upward
dynamic on Monday but gave up the advance over the next two sessions. It rallied
again today, this time from above the 94¢ area. However, it will need to
hold an upward dynamic beyond a few days to confirm the return of demand in
Gold – continues to firm in the region of $1400 in what has so far been a gradual unwinding of the short-term oversold condition. A break in the short-term progression of higher reaction lows would be required to question potential for a continued reversion upwards towards the mean.
Palladium – remains a relative strength leader and continues to hold its six-week progression of higher reaction lows. A sustained move below $740 would be required to question current scope for additional upside.