The Australian dollar is losing value in the AUD/USD pair during the Asian session, returning to decline after a hesitant correction on Monday and testing 0.6480. Some support for quotes is provided by the minutes of the September meeting of the Reserve Bank of Australia (RBA), during which the regulator kept the key interest rate at the previous level of 3.60%, the lowest since April 2023. 

The AUD/USD pair broke through the support level of 0.6530 after the Republican administration in the White House introduced an additional 100.0% tariff on Chinese goods starting November 1, as well as restrictions on any critical software.

Growth is possible.

On the daily chart, a downward correctional second wave of the highest level (2) ended, and the third wave (3) and the wave 1 of (3) develop. Now, the third wave of the lowest level iii of 1 is forming, within which the wave (i) of iii and the correctional wave (ii) of iii have ended, and the wave (iii) of iii has started. If the assumption is correct, the AUD/USD pair will grow to the area of 0.6800–0.6940. In this scenario, the critical stop loss level is 0.6520.

The AUD/USD pair is gaining value within a long-term uptrend and is showing signs of forming an Ascending Triangle pattern. 

The AUD/USD pair rose to 0.6607 after the Reserve Bank of Australia (RBA) decided on September 30 to keep interest rates at 3.60%. In addition, officials noted a slowdown in the negative dynamics of core inflation.