Now I remember why I hate to get bulled-up at the highs

EUR/USD has fallen back below the 1.3250 level, triggering a batch of trailing stops. US equities have shed roughly half their intraday gains and may close below the key 875 level again, a bad sign for the bulls.

Aussie has fallen back to 0.7242 after taking out the 0.7300 barrier earlier this afternoon. 0.7302 was the high, traders report. Cruel…