The S&P fell about 7 points in early trade but it has pared back those losses, now down less than 2 points. EUR/USD is responding, firming up to the mid 1.3650s.
Given the sharp fall in EUR/USD earlier, there is not much in the way of resistance on the way back up…Fibo retracements of the 1.3785/1.3616 decline come in at 1.3680 (38.2%) and 1.3700, the 50% retracement.
