• AUD/USD +0.1% Wed as traders calibrate U.S.-Iran news & hawkish RBA bias

• Futures pricing currently implies 74% probability of May RBA rate hike

• RBA officials Hunter & Plumb appear before Senate productivity committee Wed

• AUD break above 0.7250-85 resistance zone would spur next leg higher

• Vance scraps Pakistan trip; Trump makes Iran ceasefire open-ended

• Iran keeps Strait of Hormuz shut, classifies U.S. naval blockade hostile

• AU/U.S. Apr S&P PMIs, U.S. initial jobless claims (poll 210k) all due Thur

• Range Asia 0.7147-635, support 0.6834 0.6660, resistance 0.7250 0.7283
AUD Daily 55-DMA

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