A fall is possible.

On the daily chart, the downward wave of the highest level (C) and the third wave 3 of (C) develop. Now, the first wave of the lowest level i of 3 and the correctional second wave ii of 3 have ended, and the wave iii of 3 has started. If the assumption is correct, the AUD/USD pair will fall to the area of 0.5670–0.5500. In this scenario, the critical stop loss level is 0.6444.

Amid the unstable dynamics of the American dollar, the AUD/USD pair is correcting in an upward trend, trading at 0.6409.

The Australian dollar is showing moderate gains in the AUD/USD pair during the Asian session, developing the "bullish" momentum formed on Monday. 

Today, the AUD/USD pair renewed a four-month high around ​​0.6430 and is preparing to continue growing in the long term against the weakening positions of the American currency.

On the four-hour chart of the AUD/USD pair, a large Double Bottom graphical model is forming, suggesting an upward trend reversal, within which one can identify the construction of Rising Three Methods candlestick analysis patterns at levels 0.6248 and 0.6382.

The AUD/USD pair continues to recover the positions lost since the beginning of the month and is holding around 0.6350: investors have returned to buying assets alternative to the American currency after the suspension of import tariffs for most US partners for 90 days and the abolition of duties on smartphones, computers, and electronics manufactured in China, which gave markets hope for reaching compromise agreements and a gradual or complete lifting of trade barriers in the medium term.