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FXstreet.com (San Francisco) - AUD/USD momentum has turned negative this Monday in Asia as the initial boost following the announcement of Bernanke's QE3 late last week fade.

Without any particular market-moving news or economic data, price has pulled back to a 2-day low of 1.0514, down from 1.0551 at Friday's closing bell in New York.

If the bears continue to dominate in the hours and sessions ahead, support is noted at 1.0481 (100-hour EMA), then at 1.0447 (38.2%, 1.0163/1.0622 advance). Upside rallies may encounter resistance at 1.0550 (intraday).

On the fundamental front, the RBA releases its Monetary Policy Meeting Minutes on Tuesday, and there will be a speech by RBA Assistant Governor Debelle.

At the time of writing, Asian stocks are mixed. Australia's ASX is trading up 5.24 points, or 0.12% at 4395.20. Hang Sen 40 is quoted down 23.78 points, or 0.12% at 20606.00.

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