• NY opened near 0.7060 after 0.7038 traded overnight, the rally extended early

• USD, US yield , USD/CNH drops helped AUD/USD hit 0.7070

• Rallies in stocks, gold, silver and copper also contributed to the pair's rally

• Sellers emerged however and the pair fell below 0.7060 late in the day

• USD firmed up while stocks, gold, silver traded down and USD/CNH turned up

• AUD/USD was up +0.08% in NY's afternoon which helped techs lean bullish

• Rising RSIs, daily bull hammer, hold above 10-, 21- & 55-DMAs are bull signals

• US July CPI due Wednesday, a below estimate result could rally AUD/USD
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)