• AUD/USD hit 0.7048 overnight, sellers emerged, the pair turned lower on the session

• 0.7023 traded, NY opened just above 0.7030, the pair traded down -0.17% in early NY

• Pair fell despite overall US$ weakness and lower US yields

• Oil , USD/CNH rallies weighed on AUD/USD as did silver, copper equity drops

• Daily RSI is falling but monthly is rising, AUD/USD above 55-DMA, daily cloud top

• Investors will continue to closely monitor situation with Iran which could impact risk

• US weekly, continuing jobless claims are data risks in NY's morning
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)