• AUD/USD rallied sharply overnight, hit a 13-session high of 0.6969

• Broad-based USD selling & USD/CNH drop below 6.7770 buoyed AUD/USD

• Sellers emerged however as USD, US yields firmed up

• Drops in gold and silver helped the USD recover some losses

• AUD/USD pulled back, slid back below the 21-DMA, neared 0.6950 into NY's open

• The pair was up only +0.10% after turning away from 0.6980/0.7010 resistance

• Rising RSIs, AUD/USD's hold above the 10- & 200-DMAs give bulls some comfort

• A daily inverted hammer candle formed which may be a concern for bulls
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)