EUR/USD dipped to the 1.2916 area and is now bouncing back after getting a nudge off its 200-day average. Related markets are not helping much (stocks remain heavily underwater and commodities and rates are soft), but Cable, EUR/USD and even USD/JPY are reversing some of their earlier losses.
EUR/USD has bounced to the high 1.2930s (resistance now at 1.2950/55), while cable has absorbed some real-money selling to edge up to the 1.5315 level from 1.5280 lows.
1.5350/55 is solid resistance if the rebound extends further.
USD/JPY trades in the low 86.70s. 86.95/00 should cap rebounds this afternoon. 86.27 was the session low, shortly after the horrendous University of Michigan consumer sentiment survey.
