The Aud made good gains following the China GDP, trading almost to the point where trendline rsistance is to be seen reaching 1.0449 before failing and dropping back to resistance-turned-support at 1.0370 area. The hourlies are pointing to further near term downside moves and it looks as though the recent range will continue to dominate. 

We may again see tests of 1.0450, but it think it unlikely we go much higher than this and more likely we see a retest of the 1.0270 levels in coming sessions. Watch the S&P. It has tested 1300, but looks as though it might be difficult to sustain gains above this level, which in turn would likely weigh on the Aud.