• AUD/USD hit 0.7228 in Asia then steadily fell, slide accelerated in Europe

• Report US ship hit by two Iranian missles drove risk-off sentiment

• USD, US yields , oil all rallied sharply on the report

• Gold, silver, copper fell & USD/CNH bounced off its low to reinforce risk-off

• AUD/USD fell towards the 10-DMA, hit 0.7168, buyers then emerged

• USD, yields, oil softened after US official denied the missile strike

• AUD/USD rallied toward 0.7185 into NY's open, pair traded down -0.25%

• Falling daily, monthly RSIs & daily inverted hammer candle are concerns for bulls
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)