• AUD/USD traded 0.7103-0.7133 overnight, hit a 2-1/2-month high ahead of NY's open

• NY opened near 0.7125, the pair traded heavy for most of the NY session

• The overnight low was hit in early NY, the pair then rallied toward the overnight high

• Upward moves in gold, silver, copper & equities helped the lift but sellers emerged

• Firm US yields , USD buying, USD/CNH lift off its low weighed on AUD/USD

• The pair near 0.7110 late, AUD/USD traded down -0.18% in NY's afternoon

• Daily RSI diverged on the high, pair fell below the 61.8% fib of 0.7277-0.6867

• Rising monthly RSI, pair's hold above 10- & 21-DMAs give bulls some comfort
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)