The slide from just south of 1.4000 begun late in Asian trade bottomed around 1.3875 and now prices are in retracement mode. 1.3922 is the 38.2% retracement of that intraday fall while the 50% comes in at 1.3936 and the 61.8% at 1.3951.
Keep an eye on the opening on Wall Street. The S&P drifted down toward the important area of support in the 875/880 area. Continued weakness will see risk aversion rise further, supporting the dollar and JPY.
