• NY opened near 0.7055 after AUD/USD traded 0.6969-0.7084 overnight

• Pair rallied early, 0.7078 traded but bulls ran out of gas as the US$ firmed up

• US yields & USD/CNH rallied away from their lows

• Gold and silver eroded some gains which helped to drive some US$ buying

• AUD/USD bulls gave up some of the earlier gains, pair slid below 0.7045

• It then neared 0.7055 late, traded up +1.07% in NY's afternoon

• Rising RSIs, move above 21- & 55-DMAs and daily cloud are bullish signals
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)