• AUD/USD +0.4% early Mon, boosted by hopes of Strait of Hormuz re-opening

• Trump claims Iran MOU largely negotiated but later tempered expectations

• The U.S. President now saying blockade remains in place & no rush for a deal

• AUD pushing upper hourly Bollinger band, early strength likely to dissipate

• Fed FFR hike expectations rising while RBA looks to be on hold for now

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

• Range Asia 0.7145-68, support 0.7080 0.6834, resistance 0.7283 0.7661
AUD Hourly Bollinger Study

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