• NY opened near 0.71335 after 0.7166 traded overnight, pair rallied early

• USD, US yields , USD/CNH softened while stocks, gold, silver moved up

• 0.7163 traded, sellers then emerged and AUD/USD resumed its downward move

• USD, yields rallied & riskier assets traded downward as risk sentiment soured

• Report activation of Iran air defense systems helped sour risk sentiment

• AUD/USD fell below the 10-DMA, hit a 7-session low of 0.7111 then bounced

• USD softened a bit, AUD/USD neared 0.7135 late, traded down -0.37%

• Falling daily RSI, move below the 10-DMA are concerns for AUD/USD bulls
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)