• AUD/USD hit 0.7223 overnight, sellers emerged, the pair then fell sharply

• Big gains in US yields drove broad-based USD buying

• Risk assets sold on USD bid; gold, silver, copper & equities see big drops

• USD/CNH's rally above 6.8140 added to the risk-off sentiment

• AUD/USD fell below the 10- & 21-DMAs, hit an 8-session low of 0.7140

• The pair bounced into NY's open but still traded down -0.70% in early action

• Techs flash warnings to bulls; pair below 10- $ 21-DMAs, RSIs are falling

• A monthly inverted hammer is now in place for May, adds to bear signals
audusd


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