• AUD/USD fell to 0.7020 in Asia on USD buying then rallied in Europe's morning

• USD selling drove the pair up to 0.7044, pair hit a fresh 1-1/2-month high

• AUD/USD fell again as USD buying took hold again & yields

rallied

• USD/CNH rally into positive territory, drops in gold and silver added weight on AUD/USD

• AUD/USD dipped below 0.7030 in NY's open, the pair traded near flat

• Daily inverted hammer formed, daily RSI didn't confirm the high, are worries for bulls

• US July University of Michigan survey is a data risk in NY's morning
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)