• NY opened near 0.6150 after 0.6332 traded in Asia, drop extended

• China's imposition of tariffs on US goods drove risk-off sentiment

• Slower global growth sank commodities , stocks

• US yields , US$ firmed on Powell's somewhat hawkish rhetoric

• AUD/USD hit a 5-month low of 0.5987, neared April 2020 monthly low at 0.5980

• US$ buys abated, AUD/USD bounced, neared 0.6035, was down -4.65% late NY

• Techs are bearish; 76.4% Fibo 0.5510-0.8007 broken, RSIs imply bear momentum

• Monthly inverted hammer, move below daily cloud & many DMAs are bearish
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)