Yes, the AUD has recently been strengthening. The question is how long is it going to do so, esp. because it grows overbought, whereas the EUR is getting oversold. If this pair doesn't stop and reverse at the current up trend line, I expect it to find support at 1.5338.
I think it's possible we could see the EURUSD below 1.34 by the end of March, maybe as low as 1.3375. The AUD admittedly does not inspire confidence, but I have a bit of a contrarian streak that I probably should try to do away with.