AUD/CAD ââ,¬â€œ The AUDCAD has pushed through the 6 month resisting trendline (closing above on a daily basis) on 11/17.  However, the bullish break is clouded by bearish divergence with daily oscillators and overbought daily RSI.  A setback encounters fibo support at the 38.2% of .8630-.8856 at 1.8770.  A longer term 2+ year resisting trendline is at .8957 today and decreases about 3 pips per day.

AUD/JPY ââ,¬â€œ AUDJPY looks like it is rolling over after failing at the 78.6% of 91.26-89.75 at 90.93.  Price has just slipped below a short term supporting trendline drawn off of the 11/14 and 11/17 lows.  This bolsters the bearish case and exposes the 11/14 low at 89.75.  The 10 and 20 day SMAs are support at the current juncture at 90.45/56.  Bears remains in control unless the 11/20 high at 90.99 is broken.

AUD/NZD ââ,¬â€œ A short term wedge is forming from the 10/26 high at 1.1659.  The upper end of the wedge is just below the 11/16 high at 1.1611.  Probability favors a push to the upper end of the triangle followed by a decline back into the triangle to complete 5 waves.  Since the preceding trend is up from 1.1201, this wedge most likely eventually gives way to a more pronounced rally.  Price needs to stay above 1.1450 in order to keep the triangle intact.

Jamie Saettele is a Technical Currency Analyst for FXCM.