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• NY opened near 0.7010 after 0.7035 traded overnight, drop extended in early NY

• Firm USD, US yields helped sink AUD/USD down to 0.6999, a 7-session low

• Rally ensued after report out of Iran drove hopes for peaceful resolution to the conflict

• USD, US yields , oil fell while stocks, gold, silver copper rallied

• AUD/USD hit 0.7021 then neared 0.7010 late, was down -0.30% in NY's afternoon

• Falling RSIs, hold below the 10- & 200-DMAs are concerns for AUD/UDS bulls

• RBA rate decision looms, hike expected, statement & presser will be in focus
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)