(Corrects USD/CNH level to 6.7971)

• NY opened near 0.6895 after 0.6908 traded overnight, the pair hit 0.6889 early

• Buyers emerged however after the US May core & headline PCE reports

• US yields & USD dropped sharply after the data

• Gold & silver turned positive and USD/CNH traded down to 6.7971

• AUD/USD rallied to 0.6927 then dipped, it sat near 0.6920 late, was up +0.24%

• Rising daily RSI gives bulls comfort but falling monthly RSI is a concern

• AUD/USD's hold below the 10- & 21-DMAs are also worries for AUD/USD bulls
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)