• AUD/USD -0.1% Fri in subdued trading, markets seeking clarity in Middle East

• U.S. and Iran remain far apart on key issues despite reports of progress

• Rising Fed rate hike expectations will drive downside AUD/USD bias for now

• AUD targeting break below 0.7096 55-DMA, bigger move towards 0.6834 possible

• Futures pricing implies 88.7% probability RBA will keep OCR unchanged in Jun

• AU Apr monthly CPI update due Wed, Q1 capital expenditure data Thur

• Range Asia 0.7136-52, support 0.7080 0.6834, resistance 0.7283 0.7661
AUD Weekly 52-WMA

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