EUR/USD is undergoing a deep correction in the wake of comments from German finance minister that flouting the stability pact will undermine the euro.
The loss of support at 1.3415/20 has opened up a pullback to the 1.3100/50 area where EUR/USD was trading when the Fed announced a fresh round quantitative ease with a $1.1 trln price tag attached.
The 61.8% retracement of the jumpt from 1.3100 to 1.3737 comes in right here at 1.3345.
