• AUD/USD fell below the 10-DMA, hit a 4-session low of 0.6960

• Buyers then emerged, the pair rallied above the 10-DMA, turned positive

• Rallies in gold, silver, copper & equities helped the pair make gains

• Pair got an added boost as USD, USD/CNH, oil fell on possible US-Iran negotiation

• Friday's high broke, Thursday's high was neared, 0.7008 traded into NY's open

• AUD/USD traded up +0.37% in early action which helped techs lean bullish

• RSIs are rising & AUD/USD moved back above the trend line off the May 13 high

• The 0.7020/25 area is key short-term resistance bulls need to overcome
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)