Here we go again. Intraday volatility has just picked up again as EUR/USD plunged through 1.3890 Fibo support (38.2% of the 1.2550/1.4720 rally) from 1.3975 in 15 minutes. A few stops were flushed out in the process (1.3879 the low) and now we trade at 1.3930. Expect horrible price action like this to persist for the balance of the year.