• A fresh 2-month low of 0.7004 traded in Asia on USD & USD/CNH gains

• Buyers emerged however as USD softened, US yields

moved down

• Rallies in gold, silver, copper & equities contributed to the USD selling theme

• AUD/USD rallied above the 200-DMA, hit 0.7033 early NY, traded up +0.30%

• Today's price reversal has daily technicals flashing warnings to bears

• Daily RSI diverged on the low & a daily bull hammer candle formed

• Monthly inverted hammer, falling monthly RSI give bears comfort though
audusd

(Christopher Romano is a Reuters market analyst. The views expressed are his own)