Chart of the day

AUDUSD is testing the critical resistance of 0.6560. A break above this level is required for an upside reversal higher to test 0.7075. A rejection here will leave the downside swing in the fifth wave open as a possibility.

I see this still as a fifth-wave downside not finished and will be invalidated upon a break above 0.6660. We need to see a clear confirmed break below 0.6370 for the downside fifth wave to be confirmed and validated.

Short trades could be opened here with a stop loss above 0.6660. Long trades should be opened in the case of a break above 0.6660. These are a key resistance/support level so use small sizes and tight stops.