Forex: AUD/USD looking bid after China PMI

FXstreet.com (San Francisco) - AUD/USD bounced from intraday lows after a positive Chinese HSBC reading for December, reaching 14-month highs as data showed operating conditions in the manufacturing sector continue to improve. Spot has rebounded from the 1.0510 intraday low and now trades back around the 1.0530 mark. If the positive momentum persist in the hours ahead, Valeria Bednarik, Chief Analyst at FXstreet.com identifies next resistance around the 1.0540 mark, then 1.0570 and 1.0620. If bears regains the downside, support is noted at 1.0510, 1.0460 and 1.0430.

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