AUD/USD sits presently at .5152/57, steady in early Europe after an overnight rally. The AUD garnered support from the better than expected Australian September quarter GDP, which showed a 1.1% q/q rise compared to a median forecast of 0.9%. The June quarter was also revised up to 1.2% q/q from the original 0.9%. Meanwhile, as widely expected, the RBA trimmed the official cash rate by 25bps to 4.25%, the lowest level since 1965. The central bank seemed to indicate that this could be the last rate cut, when it said it had eased "not withstanding the fact that conditions were already quite accomodative relative to historical experience." Despite the overnight rally, the technical picture it has to be said doesn't look overly supportive. Supports now lies at .5115, resistance at .5160 and .5185. Market reports presently indicate some buy orders lying down at .5130.