Wednesday, the Shanghai Composite 1% lower but this was certainly not enough to start a new wave. The Shanghai Composite is still above its at 2983. As long as this holds, there is no reason to short the Aussie.
It's not often that such obvious connections exist. Make sure to use it to your advantage and don't sell prematurely. Wait for the confirmed breakdown in Shanghai to get on the train of a high probability trade. Currently, all premature short positions are in a squeeze which is totally unnecessary.