• AUD/USD -1.0% from Wed 0.71895 high as markets calibrate FOMC outcome

• FFR unchanged, easing bias retained but with increasing opposition

• AUD traders reducing long positions in wake of Wed Q1 CPI beat

• RBA hiking bias remains intact, futures pricing implies 69.5% of May 5 hike

• Test of major 0.7250-85 remains likely on shoulder of Tue's RBA meeting

• U.S.-Iran deadlock ongoing, oil surges on refreshed supply concern

• AU Q1 import/export price data, U.S. Mar PCE & Q1 GDP advance due Thur

• Overnight range 0.71019-665, support 0.6834 0.6660, resistance 0.7250 0.7283
AUD Hourly Bollinger Study & DXY Daily 55-DMA

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