The AUDCHF will probably spend the next several weeks (if not months) in a range. A possible outcome for the range is a triangle. The top side of the range is near .82 and the low side of the range is below .70. Price is in the upper half of the range currently. There may be an opportunity to sell a rally into the top of the range next week.
The AUDCAD range is tightening, which warns of a breakout. Still, until a move through .85, risk is to the downside in a continuation of the range that began in early October. Short term support is at .8056.
The AUDNZD has trended higher steadily since the October low, which is above significant long term support (1.05 area). Currently, there is support from a trendline that has held since mid October. A move below there (roughly 1.20) would shift focus to a trendline that is not as steep. This line intersects the 11/25 low at 1.1717 on December 9 (Tuesday).
Jamie Saettele writes Forex Technicals: The Day Ahead, Monday-Thursday (published at 6 pm EST), Daily Technicals every weekday morning (9 am EST), COT analysis (published Monday mornings), and analysis of currency crosses throughout the week. He is also the author of Sentiment in the Forex Market. Contact at jsaettele@dailyfx.com
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