AUD/USD drops 0.9% Tuesday as commodities selloff on global recession fears

New York copper down 4.6%, U.S. crude -8% on fears of demand destruction

Weighed down by broadly stronger USD on risk aversion and stubborn inflation

Fed June meeting minutes awaited Wed as traders brace for 75bps hike in July

RBA 50bps hike Tues taken in stride; markets price in another 50bps Aug hike

Support at 0.675850, 50% of 2020-21 rally continues to hold; Tues low 0.6762

Break opens ratchet towards 0.6648, June 2020 low; resistance 0.6825, 0.6850

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