• AUD/USD hit 0.7060 overnight, sellers emerged, the pair turned lower

• USD buying, firm US yields , USD/CNH gains weighed on the pair

• 0.7037 traded in Europe, NY opened near 0.7045, pair was down -0.20% early

• Daily RSI turned down & AUD/UD held below the 50% Fib of 0.7277-0.6867

• Rising monthly RSI, monthly long legge doji gives bulls some confidence

• AUD/USD hold above 10-, 21-, 55- & 200-DMAs reinfoce bulls' confidence

• US jobless claims, Q2 unit labor costs are data risks in NY's morning

• The US July payroll report due Friday remains a key risk for investors
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)