I mentioned yesterday that if the EURUSD broke below the important 1.2700 level it would probably be the catalyst for a move in the AUDUSD back to the 0.6300/30 region. This region is significant as the daily chart shows, as this would signal a break of the channel that has been in place since October 2008 and see the AUDUSD test the 0.6000/50 region.
A break below the 0.6300 level also looks pretty ugly when you look at it on a weekly chart. The 0.6420 level is currently holding but i expect early London to take care of that.