• NY opened near 0.6205 after 0.6171 traded overnight, rally extended
• Gold , equity rallies helped put downward pressure on US$
• US$ selling intensified as yields turned lower on the session
• December JOLTS data weighed on yields, indicated job market may be softening
• USD/CNH traded below 7.2760 which helped AUD/USD rally to 0.6259
• Pair neared 0.6250 late, traded up +0.40% late in the session
• Lingering US-China trade tensions helped limit gains for AUD/USD
• Techs lean bullish; RSIs rising & pair traded above 21- & 10-DMAs
• Daily & monthly bull hammer candles reinforce the bullish tech signals
• China Jan. Caixin services PMI is a data risk in Asia trading hours
• US Jan. ADP. Dec trade balance, Jan. ISM non-mfg PMI are data risks in NY
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)