• NY opened near 0.7070 after 0.7074 traded overnight, the slide extended

• Steady USD buying, gains in US yields & USD/CNH weighed

• Rally in oil & drop in equities likely contributed to AUD/USD's drop

• 0.7053 traded before the pair bounced toward 0.7065, sellers emerged again

• Persistent USD buying had AUD/USD near 0.7055 late, it was down -0.21%

• Rallies in gold, silver, copper likely helped prevent a deeper AUD/USD fall

• Falling daily RSI, pair's hold below 50% Fib of 0.7277-0.6867 concern bulls
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)