• AUD/USD +0.15% Wed after hitting 0.7231 in NY, highest traded since May

• Pair retains strong upside bias, 0.72825 50-month high the short-term target

• RBA Deputy Governor Hauser worried on inflation, board will debate Sep hike

• Futures pricing now implies 71.9% probability RBA will hike 25 bps in Sep

• Iran-backed Houthis strike Saudi cities; U.S.-Iran hostilities continue

• Markets wary U.S. Aug inflation data, PPI due Thur, CPI Fri (poll +0.4% m/m)

• Overnight range 0.7205-31 support 0.6920 0.6866, resistance 0.7277-82 0.7661
AUD Daily 21/55/100-DMA

(James Connell is a Reuters market analyst. The views expressed are his own.)