• AUD/USD +0.15% Wed as higher than anticipated CPI makes RBA hike more likely

• AU Jul headline CPI +1.0% m/m, +3.5% y/y (poll +0.8% & +3.3% respectively)

• Markets view tighter U.S. sanctions on Iran less risky than military action

• Brent crude extends overnight fall (-2.7% Wed), DXY & UST yields also soft

• AUD targets break of 0.7200 resistance, 0.7282 level then becomes critical

• U.S. Jul PCE price index Wed, Reuters poll consensus +0.1% m/m, +3.6% y/y

• Fed Chair Warsh speech at Jackson Hole Fri may become late-week highlight

• Range Asia 0.7160-76 support 0.6920 0.6866, resistance 0.7190-00 0.7277-82
AUD Daily 21/55/100-DMA

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