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Citi: trading AUD/USD ahead of the RBA

AUD/USD fell to a 4.5-year low on Monday as Switzerland rejected gold plan. Strategists at Citi FX recommend staying short on AUD/USD ahead the RBA policy meeting on Tuesday.

"Tomorrow’s RBA decision presents downside risk for AUD. While no change in rates is likely and it is probably too soon for the RBA to signal more explicit risk for a cut with a shift in the forward guidance, the statement could prove more dovish than that seen last time," analysts forecast. 

Citi notes that investors are seen pricing in about 15 bps of easing by September next year. 

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