• AUD/USD fell to 0.6899 in Asia on the back of broad-based US$ buying

• The pair then rallied as the US$ fell; USD/CNH dropped down to 6.8570

• AUD/USD rallied to 0.6948, a 4-session high, sellers then emerged

• Risk soured on report Iran's Kharg Island targeted with strikes

• Stocks, gold, silver fell while US$, US yields, USD/CNH traded upward

• AUD/USD neared 0.6925, NY opened nearby, the pair traded up only +0.15%

• Pair still consolidating its drop from the February high, is a bearish sign

• Pair's hold above the daily cloud base & 10-DMA gives bulls some comfort

• Pres. Trump's deadline for a deal with Iran looms for Tuesday night
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)