• NY opened near 0.7130 after 0.7168 traded overnight, drop extended early NY

• USD, US yield continued overnight rallies, US 10-yr yield

pierced 5.0%

• Yields, USD then moved downward which helped riskier assets recover some losses

• Gold, silver, copper & equities lifted off the lows while USD/CNH turned lower

• AUD/USD neared 0.7150, was down only -0.33% during NY's afternoon

• Techs lean bearish; RSIs are falling & the pair is below the 10- & 21-DMAs

• A daily bull hammer candle formed which may be a worry for AUD/USD bears
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)