Forex: AUD/USD strengthens on China data

FXstreet.com (San Francisco) - The AUDUSD has extended its bounce from recent two-day lows hit in earlier trade, now exchanging back around 1.0475 after testing bids through to the 200-hour EMA (1.0460). But the market remains under pressure, now down around 10 pips since the NA close. The latest move upward comes on AUD strength following better than expected China data, which saw that Japan's exports to China fell 15% in November from a year earlier, while China's exports to Japan declined 3.8%. The Australian dollar is sensitive economic news out of China given the nations' close trade ties.