AUD/USD Hangs by a Thread Ahead of RBA Decision

The Australian Dollar is holding steady just above the psychologically important 0.7000 level as markets wait for the Reserve Bank of Australia's policy decision on Tuesday.

Expectations are high that the RBA will raise interest rates by 25 basis points, which would be in line with firm Federal Reserve hike bets and elevated U.S. yields.

The technical indicators point to a bearish structure, with potential support levels at 0.6945 and 0.6866 if the AUD/USD pair breaks below 0.7000.