The dollar is consolidating gains save for its twin the JPY, with which it has been moving in lockstep. Earlier reports of intervention by the Reserve Bank of Australia to buy its local unit versus the dollar helped stall the sharp USD/JPY and EUR/USD slides, putting dealers on more cautious footing, fearful the BOJ could come in and buy USD/JPY EUR/JPY or both. Stocks remain soft, down 3% in the US and 7% in Latin America and oil closes at its lowest level in nearly two years at $56.10. One interesting factoid regarding the AUD/USD is that the RBA came in about 3-3.5 cents higher than they did last time around.
If you are itching to sell EUR/USD, sell strength, not weakness. Use bounces toward 1.2600 with a stop above 1.2660 for a retest of the 1.2330 lows.