• AUD/USD has traded a 21 pip range thus far Monday; 0.7169-0.7190

• 0.7190 is 10 pips shy of Friday's two-week peak. Thursday's low was 0.7098

• Risk-sensitive AUD benefits from Nikkei topping 67k for first time

• There is a large 0.7200 option expiry for the 10am ET NY cut

• CFTC data: net AUD long fell 29% from 13-year high to 60,155 in week to May 26

• 60,155 contracts is the smallest net AUD long position for 10 weeks

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(Robert Howard is a Reuters market analyst. The views expressed are his own)