EUR/AUD ââ,¬â€œ The EURAUD rally appears to be gradually losing momentum, as the slope of MACD on the daily charts declines. However, price is holding above trendline support formed from the 9/5 low of 1.6592 and daily oscillators reflect bullish levels, leaving the possibility that the pair could target the 10/4 high of 1.7138. A break below the said trendline could find the pair falling towards the 9/5 low where a triple bottom formed at the 7/26, 8/11, and 9/5 lows.

EUR/CAD ââ,¬â€œ EURCAD continues to trade within the upward sloping channel that began in early March, but price is losing strength as CCI has slowly tracked down from extreme levels in May. The pair formed a short term double top at the 9/21 and 10/4 highs which favors weakness and could find the pair targeting the support line of the noted channel. However, a move above 1.4334 would negate our bias and EURCAD will likely continue higher within the channel.

EUR/NZD ââ,¬â€œ EURNZD faced massive resistance the 200 day SMA, leading the subsequent declines for the pair. However, price remains within a downward sloping channel since July, and with daily oscillators signaling weakness, the pair is likely to hold with the trend. Immediate support lies at the 9/26 low of 1.8927, however, a break above the 38.2% fibo of 1.6326-2.1188 at 1.9333 could see the pair probe the 200 day SMA once again.

Jamie Saettele is a Technical Currency Analyst for FXCM.