• AUD/USD -0.2% Tue, trading subdued ahead of important U.S. inflation update

• U.S. Apr CPI due Tue, Reuters poll consensus +0.6% m/m, +3.7% y/y

• NAB business confidence -24 (prior -29), remains dire despite slight uplift

• AU federal budget due Tue, inflationary impacts heavily scrutinised

• AU Q1 wage price index due Wed, will gauge stubborn services inflation

• AUD pressing lower hourly Bollinger band, downside progress likely to slow

• Stalemate in U.S.-Iran peace negotiations increases re-escalation risk

• Range Asia 0.7229-51, support 0.6834 0.6660, resistance 0.7283 0.7661
AUD Hourly Bollinger Study

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