• AUD/USD flatlines wtd as markets assess status of Middle East conflict

• Trump says Iran ceasefire "on life support" after rejecting Iran's proposal

• Brent crude up 3.4%, but U.S. equities & risk proxy assets steady for now

• AUD trending higher overall, but U.S.-Iran war news will dictate short term

• AU federal budget due Tue, expect scrutiny for any inflationary impacts

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

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

• Overnight range 0.7236-595, support 0.6834 0.6660, resistance 0.7283 0.7661
AUD Hourly Bollinger Study & DXY Daily 55-DMA

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