The Australian dollar is the laggard in the forex market today alongside the US dollar.
A big reason why is bets on a decline following the RBA decision at 0330 GMT.
AUD/USD is virtually flat on the day at 0.8504 after falling as low as 0.8414 — a multi-year low.
If there are no surprises from the RBA, the pair could stick close to 0.85 because of $2.5 billion in option expiries on Tuesday.
In the short term, there is talk of demand building in the 0.8440/60 range. More bids ahead of 0.8400 including a barrier. Stops below 0.8380.
Offers at 0.8540 but larger size at 0.8550. More at 0.8570 and then ahead of 0.8600.
