EUR/USD and AUD/USD each went into a brief freefall after the Chinese economic data but are now trying to steady a bit lower from where the trip began. From about 1.4118 ahead of the data, EUR/USD traded down to 1.4068 amid a liquidity air-pocket.
I guess it is safe to say the market was positioned for more upbeat data and had stops set tight.
1.4045 is next support for EUR/USD if selling follows-through. EUR/USD trades at 1.4092 with AUD at 0.9121.
(Now I know why Sean took a powder…)
