• AUD/USD traded 0.6991-0.7011 overnight, NY opened near 0.7005, up +0.24%

• Broad-based USD selling, US yield & USD/CNH drops buoyed the pair

• Gold, silver, copper and equity rallies drove risk-on which helped lift AUD/USD

• Significant drop in oil contributed to the risk on trading theme

• AUD/USD move above the 10-DMA, rising daily, monthly RSIs are bull signals

• Pair's ongoing consolidation phase reinforces the bullish tech signals

• US June durable goods orders is a data risk during NY's morning
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)