Berlusconi Caught Checking Out The Butt On The Danish Prime Minister

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Syd 23:15:27 GMT - 10/26/2011
www.businessinsider.com/silvio-berlusconi-checks-out-the-butt-of-the-danish-pm-2011-10#ixzz1bvsP4yKs

EU talks with bankers proving difficult
Merkel and Sarkozy are reportedly negotiating directly with the private sector bankers and talks are being described as â€˜difficultâ€™. The banks are expected to present their latest counter-offer later today.

AUD/USD: Any rallies are classified as corrective, with the market still locked within a well defined downtrend. As such, we would expect to see the current bounce well capped below 1.0500 on a daily close basis in favor of the next major downside extension back towards and eventually below 0.9385. Ultimately, only a daily close back above 1.0550 would delay outlook and give reason for pause. A daily close back below 1.0315 confirms outlook and should accelerate declines. Rallies have stalled into the Ichimoku cloud to further confirm bias.

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