• AUD/USD -0.2% late Mon after U.S. & Iran wrapped up first round peace talks

• Brent crude -3.0% to $78.15 a barrel after early spike on re-escalation fear

• 2-year UST yields reach 16-month high as Fed hike bets build; DXY +0.2%

• AUD downtrend developing, break below 0.6980 will trigger move toward 0.6834

• AU May CPI due Wed (poll -0.3% m/m), May employment data due Thur

• RBA Deputy Governor Andrew Hauser speaking in Melbourne Wed

• Overnight range 0.6994-0.70135, support 0.6980 0.6834, resistance 0.7089
AUD Weekly 52-WMA

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