• NY opened near 0.7245 after 0.7232 traded overnight, pair fell sharply in early NY

• Above estimate April PPI drove USD, US yields up; AUD/UD fell to 0.7237

• Buyers emerged however as yields turned lower & USD softened; USD/CNH fell to 6.7867

• Rallies in silver, copper & stocks as well as gold's bounce off its low helped lift AUD/USD

• The pair hit a 5-session high of 0.7272 then neared 0.7260 on some late day USD buying

• AUD/USD traded up +0.27% in NY's afternoon which had techs sending bullish signals

• Daily, monthly RSIs indicate upward momentum, pair holds above rising 10- & 21-DMAs

• Widening 20-month Bolli bands, hold above 61.8% fib of 0.8007-0.5910 are also bullish
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)