FxWirePro: AUD/USD steadies around 0.7185, US-Iran news remains key

• AUD/USD traded steady near 0.7185 on Monday as markets looked ahead to Middle East peace talks, RBA remarks, and key domestic data releases.

•Trump said he would soon decide on a proposal to extend the ceasefire with Iran, but major disagreements between the two sides remain unresolved.

• Australia's Q1 GDP data is due Wednesday, with growth expected to slow to 0.5% q/q from 0.8% in Q4, reflecting the impact of the war and higher interest rates.

•RBA Governor Michele Bullock will testify before lawmakers on Thursday, while Deputy Governor Andrew Hauser speaks on Friday, with both likely to maintain a hawkish tone as inflation remains above target.

•Weak employment and inflation data have reduced the probability of a June rate hike to 5%, with markets also seeing a small chance that the RBA's tightening cycle has already ended.

•  Immediate resistance is located at 0.7200 (May 29th high), any close above will push the pair towards 0.7267(23.6%fib).

•  Support is seen at 0.7162(38.2%fib) and break below could take the pair towards 0.7098(Lower BB).

 Recommendation: Good to buy around 0.7180 with stop loss of 0.7120 and target price of 0.7240