AUD/USD renews intraday low around 0.7165, down for the third consecutive day as traders await the Reserve Bank of Australia’s (RBA) Interest Rate Decision during early Tuesday.

While the risk-off mood and the pre-RBA anxiety can be cited as the key catalysts weighing on the AUD/USD prices of late, a sudden shift in favor of the bears in the options market also keep the pair sellers hopeful.

That said, one-month risk reversal (RR) on the AUD/USD pair, a spread between the calls and puts, snapped a three-day uptrend while flashing -0.090 figures at the latest, per Reuters’ data on the options market.

In doing so, the Aussie RR also challenge the three-week rally before the previous day’s downbeat figure.

It’s worth noting that the downbeat signals, be it from the options market or fundamentals, are in contrast to the RBA’s likely 0.25% rate hike, which in turn requires AUD/USD pair bears to remain cautious.

Also read: Australia 10-year Treasury yields, ASX 200 portray pre-RBA anxiety