There are two hourly highs at .8845 and this level was again tested in early trade but held once more. AUD bulls will undoubtedly be feeling frustrated by the EUR/AUD and GBP/AUD rallies. I still believe that EUR/AUD can re-visit levels above 1.55 and I’m hoping that this move will be driven by the AUD/USD turning lower rather than the EUR/USD continuing to motor higher.