• AUD/USD hit 0.6996 overnight, sellers then emerged, the pair fell below the 10-DMA

• The pair turned lower, 0.6963traded, NY opened near that low, pair was down -0.34%

• Broad-based USD buying weighed on the pair as did drops in gold, silver, copper

• USD/CNH's rally above 6.7725 also contributed to AUD/USD's price drop

• AUD/USD held above the 21-DMA & in its consolidation range which comforts bulls

• Falling daily RSI, move below the 10-DMA are concerns for bulls

• Australia Q2 CPI is a data risk during Asia trading hours on Wednesday
audusd


(Christopher Romano is a Reuters market analyst. The views expressed are his own)