CLICK ON CHART TO ENLARGE
The Australian $/U.S. $ ratio has a decent batting average, per predicting the future direction of the CRX Commodity Index.
At this time the AUD/USD ratio may have created a double top and broken key support at (2). At the same time the CRX index looks to have created a flag/pennant pattern and it may have run out of upward momentum at its 61% Fib retracement level.
Keep a close eye in the next couple of weeks to see if the AUD/USD ratio pushes any lower and causes Commodities to act a little tired.
