AUD/CAD ââ,¬â€œ AUDCAD has bounced from the 9/28 low at .8288.  MACD slope is positive for the first time since 9/21.  The move from .8684 to .8288 is in 3 distinct waves and is corrective in nature, indicating that the next big move is likely higher (as long as .8288 holds as support).  Price has crossed above the 22 day SMA today ââ,¬â€œ which reinforces the bullish bias.  CCI has increased from below -100 ââ,¬â€œ this is often a signal that precedes a reversal.  A drop below .8288 would favor a dip to the 78.6% fibo of .8119-.8684 at .8241.

AUD/JPY ââ,¬â€œ AUDJPY has formed a 2 month head and shoulders pattern.  The break of the neckline on 9/22 proved to be false as the pair has rallied back to the 88.00 figure.  Resistance is at the 9/27 high at 88.29.  Strength above there exposes the potential resisting trendline drawn through 89.85 and 89.22 at 88.65.  Risk to the upside is minimized at that point.  A break below 87.25 (neckline) opens up the door for bears and exposes the7/7 high at 86.13.

AUD/NZD ââ,¬â€œ Little continuation following the 9/26 reversal candle (took out the previous low, previous high and closed higher than the previous high) does not bode well for bulls.  However, the proximity of the 9/26 low at 1.1210 limits risk.  A dip below 1.1210 suggests that the pair is headed towards the 1/247 high at 1.1112.  It takes a push through 1.1490 to instill confidence in the upside.

Jamie Saettele is a Technical Currency Analyst for FXCM.