• NY opened near 0.6945 after 0.7003 traded overnight, price drop then extended

• Broad-based USD buying due to risk off trading weighed down AUD/USD

• Significant drops in gold, silver, copper along with equity drops added weight

• USD/CNH's rally toward 6.7980 & AUD/JPY's drop contributed to AUD/USD moving lower

• The pair hit 0.6915 in NY's afternoon, was trading down -1.23% late in the day

• Techs are bearish; RSIs are falling, pair below psychological 0.7000 level & 10-DMA
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)