• AUD/USD fell below the 55-DMA overnight, hit 0.7088 then rallied & turned positive

• 0.7126 traded, NY opened near that overnight high, the pair was up +0.23% early NY

• Softer USD, US yields & USD/CNH drop helped underpin AUD/USD

• Rallies in gold, silver, equities & oil's drop drove risk-on sentiment, boost AUD/USD

• Daily RSI turned up, daily bull hammer formed after pair rallied back above the 55-DMA

• Monthly techs lean bearish though; RSI is falling, monthly inverted hammer in place
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)