The Australian newspaper is reporting that Rugby Australia will wait until next month before they make a decision on whether Cheika is the right man to coach the side at next year's World Cup.
That gives Cheika three chances to impress his bosses, the first of which is at Eden Park against the All Blacks tomorrow night. That is followed by hosting the Springboks in Brisbane on September 8 followed by the Pumas on the Gold Coast a week later.
The Australian reports that an interim coach could be brought in to take the Wallabies through to the World Cup.
The Wallabies have lost three of their opening four games this season, including a home series defeat to Ireland, and that comes on the back of defeats to Scotland and England on the end of year tour.
To Cheika's credit, the 2015 World Rugby coach of the year earned a victory over the All Blacks in Brisbane last year after his side very nearly stunned the world champions in Dunedin.
However that was a rare feat and the Wallabies have struggled against most of the contenders for next year's World Cup.
Since beating England at the World Cup, Australia have lost five straight to Eddie Jones' men along with just one win in their last four against Ireland and just one win over South Africa since 2015.