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Forex pairs in this Article » AUD/USD (San Francisco) - The AUDUSD pulled back from its intraday high of 1.0556 reached in earlier trade, and is now quoted back around 1.0540 after trading as low as 1.0535. The initial rise came on the back of AUD strength following the RBA's December meeting minutes, but the buying impulse has since petered out and is threatening to target lower levels. The 9-day EMA (1.0521) is offered as immediate support, then 1.0514 (Dec 6 high) and 1.0495 (Aug 19 high); In-house Chief Analyst at, Valeria Bednarik, identifies resistance levels at 1.0570, 1.0620 and 1.0650.

"Overall, the bank's somewhat impassive stance on the global growth story and the drop in the local employment rate in December support the case for unchanged rates early next year," comments
Chris Tedder, Market Strategist at "Hence, we think there is scope for another rate cut in the first quarter of 2013."
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