SPY getting ahead of itself relative to AUDUSD

This picture speaks a thousand words. JR's chart about the EURUSD relationship here at Tradinview inspired me to put this chart back into focus. I have published this relationship several times before, but given the extreme move of stocks relative to the AUDUSD lately, this begs some attention.

Which happens?

1. SPY sideways and AUD catches up?

2. SPY falls to get back in line with AUDUSD?

3. Both rise, but AUDUSD rallies more.

4. Both fall, with SPY falling further.