The EUR/USD uptrend started at 1.2870 and the 38.2% retracement of the move from there to 1.4940 comes in at 1.4150. There is also a daily low at the same level so that gives us a good technical target on the downside.
With EUR/GBP and EUR/JPY showing signs of weakness and also talk of big stops below the market in pairs like EUR/CHF, a test of 1.4150 still looks to be on the cards.
