EUR/USD made a modest new low at 1.4046 but traders are reluctant to push too aggressively to the downside despite very heavy US equity market losses and a swoon in commodities markets. Expected demand from China ahead of 1.40 barriers is keeping bears cautious, fearing a trap should equities stage a rebound. Intraday bounces have found sellers in rallies in the 1.4080s so far. EUR/USD trades now at 1.4057.