The AUDUSD is under pressure here as traders unwind AUDJPY longs. AUDJPY has broken the support level at 79.25/30, dragging the AUDUSD down with it. Asian stockmarkets are off today, with the Shanghai Composite down 2%, adding to downward pressure in AUD. There has been some buying of downside AUDUSD option puts as we head into the FOMC meeting tonight. Support is seen at between 8240-8250 on the AUDUSD, with talk of some decent bids in that zone. Under there, could open the door to 8150. Topside is limited to 8320 for now, with the earlier run up above 83c unsustainable.
AUDJPY under 78.90 could see a possible retracement to the first Fibo retracement level at 77.70.
