• AUD/USD -0.35% Wed in wake of softer than anticipated inflation update

• AU Q2 CPI +0.6% q/q, +4.0% y/y (poll consensus +0.7%, +4.1% respectively)

• Q2 trimmed mean CPI +0.8% q/q (poll +0.9%), +3.6% y/y (poll +3.7%)

• Iran launches missiles at U.S. base in Jordan, Brent crude +4.6% in Asia

• FOMC meeting outcome Wed, focus on statement with FFR likely unchanged

• AUD resistance 0.7025-30 likely holds as expectations of RBA hikes moderate

• Range Asia 0.6937-77 support 0.6866 0.6834, resistance 0.7027 0.7088
AUD Hourly Bollinger Study & DXY Daily 55-DMA

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