• AUD/USD rallied above the 50% fib of 0.7277-0.6867 overnight

• The pair neared Friday's high, hit 0.7074 then fell back below the Fibo

• 0.7057 traded, NY opened near 0.7065, AUD/UDS was down -0.07% early NY

• Pair's topside limited by firm UDS, US yields, gold drop & USD/CNH lift

• Rallies in copper, silver and equities helped to limit the pair's downside

• Falling daily RSI, inability to hold above the Fibo are concerns for bulls

• Rising monthly RSI, August's monthly bull hammer give bulls some comfort
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)