• AUD/USD +0.3% from Tue 0.70375 low; RBA highlights inflation-fighting focus

• RBA says further OCR hike possible with inflation risk tilted to the upside

• Iran adamant Strait of Hormuz to remain closed unless U.S. meets its demands

• AUD resistance at 0.7088 pivotal, expect stop-loss buying if breaks above

• U.S. Jul core CPI update Wed, Reuters poll consensus +0.2% m/m, +2.5% y/y

• RBA Assistant Governor Christopher Kent fireside chat in Sydney Thur

• Overnight range 0.7047-695 support 0.6920 0.6866, resistance 0.70885 0.7200
AUD Daily 55-DMA

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