• NY opened near 0.6985 after 0.6972 traded overnight, the pair's rally extended

• Downside surprise to US June PPI sent USD, US yields

lower

• Gold , equities rallied & USD/CNH fell towards 6.7665

• AUD/USD broke the trend line off the May 13 high, hit a 3-week high

• The pair traded above 0.7015 in NY's afternoon, AUD/UDS was up +0.58%

• Techs lean bullish; trend line break, rising daily, monthly RSIs are bull signs

• AUD/USD's hold above the 10- & 21-DMAs adds to the bullish signals
audusd


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