Growth is possible.

On the daily chart, the upward third wave of the higher level (3) forms, within which the wave 3 of (3) develops. Now, the third wave of the lower level iii of 3 is developing, within which a correction has ended as the wave (ii) of iii, and the wave (iii) of iii is developing. If the assumption is correct, the AUD/USD pair will grow to the area of 0.7162–0.7400. In this scenario, critical stop loss level is 0.6618.

During the Asian session, the AUD/USD pair is developing a stable uptrend in the short term and is testing 0.6909 for a breakout against Australian macroeconomic statistics.

The AUD/USD pair is showing confident growth, developing quite an active upward trend in the short term, which leads to the renewal of record highs. 

During today's trading, the AUD/USD pair tested the 0.6897 mark (Murrey level [+1/8]): the uptrend in quotes is still supported by differences in the monetary approaches of the US Federal Reserve and the Reserve Bank of Australia (RBA).

The AUD/USD pair is correcting upwards around 0.6860 amid the decision of the Reserve Bank of Australia (RBA) officials to maintain the current monetary policy: the key rate remained at 4.35%, and the rate on balances of funds for currency exchange at 4.25%.