• NY opened near 0.7055 after AUD/UD rallied slightly overnight, rally extended early NY

• USD, US yield , oil drops helped the pair rally to 0.7062

• Selling then took hold as gold, silver & equities turned lower & USD/CNH rallied to 6.7797

• Drop intensified after Pres. Trump said Iran downed a US helicopter & US must react

• USD firmed up while stocks, gold, silver fell sharply; AUD/USD traded down to 0.7005

• Commodities & equities erodes some losses & USD softened; AUD/USD neared 0.7030 late

• Techs lean bearish; RSIs indicate downward momentum, pair traded below the daily cloud
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)