Cate Blanchett, Nicole Kidman and Naomi Watts are three of the most distinguished Australian actresses to conquer Hollywood. Each actress has their own lead role in notable films screened at different film festivals this year, which Oscar predictions by critics suggest that one of them could take home the 2014 Academy Award for Best Actress on March 2nd. Who do you think has a better chance of winning?

Blanchett stars in Woody Allen's Blue Jasmine where she plays the role of Jasmine, a fashionable wife of a Wall Street investor who loses their elegant New York lifestyle. This left her penniless and was forced to live with her adopted sister in San Francisco and adjust with the blue-collar people around her. Blanchett's incredible performance and team up with Allen has been called the next best thing in the director's career since 'Annie Hall'. Blue Jasmine opens in Australia on September 5.

Meanwhile, Kidman and Watts are portraying the roles of two legendary icons in a biopic.

The 'Moulin Rouge' actress transforms into Princess Grace Kelly of Monaco. The film chronicles the life of Hollywood star Grace Kelly's marriage to Prince Ranier III and the crisis they had to face in their marriage during the French military invasion in the 1960s. Grace of Monaco is scheduled to be released in November worldwide. The Australian release date has yet to be confirmed.

Lastly, Naomi Watts seems to have the strongest buzz among critics and fans. Watts won the titular role of Diana, one of the highly-anticipated films of 2013. The film centres on the last two years of the princess' life after her divorce from Prince Charles. It will also feature her relationships with Dodi Fayed and heart surgeon Dr. Hassnat Khan. Diana will open in theatres on October 10.

Obviously, average moviegoers will still have to wait a little longer to watch these films to see who among the three deserves to win the best actress award. However, they also share the nomination with other acclaimed actresses including Judi Dench, Julia Roberts, Meryl Streep, Emma Thompson, Sandra Bullock and Oprah Winfrey.

These are only predictions and it is highly recommended that we all watch the films to give a fair and better judgement on who deserves to win the award. The official nominations voting begin on December 27, 2013 and will end on January 8, 2014.

Watch the trailers for Blue Jasmine and Diana below. Also watch Nicole Kidman's transformation as Grace Kelly after the trailers.

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