• AUD/USD has traded a 16.5 pip range thus far Tuesday; 0.71425-0.7159

• The base of that range is two pips above Monday low

• 0.7180 was Friday's 11-week peak. It is also a 76.4% Fibo resistance level

• Australian July inflation data is due at 0130 GMT: CPI forecast at 3.3% YY

• Trimmed mean forecast at 3.5%. AUD might strengthen on hotter prints

• Minutes show RBA debated rate hike before unanimous hold on August 11

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(Robert Howard is a Reuters market analyst. The views expressed are his own)