• NY opened near 0.6380 after AUD/USD traded 0.6449 overnight, 0.6373 hit early

• Downward momentum faded however as US$ buying abated & US yields softened

• Comments on possible Fed cut in July by Fed's Bowman weighed on yields, US$

• US$ sold, yields hit session lows & stocks , copper rallied

• USD/CNH drop below 7.1780 helped AUD/USD rally above 0.6440 in NY's afternoon

• AUD/USD rallied back above the daily cloud top and the 55- & 200-DMAs

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