Here we sit, within 15 pips of the lows in EUR/USD, within a point of the lows in the S&P and at the lows, below $63.00 in oil. Despite this relatively gloomy, risk-averse backdrop, traders will keep one eye on US equities in the final hour of trade as they have consistently trimmed losses the last few sessions to end mildly higher or lower, but well above their lows.
A continuation of that late-day rally scenario could help lift EUR/USD from the 1.4000 area in the near-term. Expect 1.4075/85 to cap rebounds over the next several hours and perhaps through the Asian session.