• AUD/USD grinding in a tight 0.7078/0.7104 range, probing the 0.71 figure

• USD looks heavy after topside failure gains, bias shifting towards weakness

• Potential 2nd round of U.S.-Iran talks keep high-beta FX supported

• But headline risk stays alive, creating conditions for a choppy session

• Technically, resistance is at 0.7150, before the YTD high at 0.7188

• Support comes in at 0.6980/0.7000 with a firmer floor at 0.6900

• On the whole, fading USD bids while risk sentiment firms underpins AUD/USD

• Clean break through 0.71 opens door to 0.7150
AUDUSD hourly chart


Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))