EUR/USD fell back to the 1.3890 level, the spike low posted yesterday afternoon in New York, after rumors made the rounds that the Reserve Bank of Australia sold AUD/USD a short while ago toward the 0.8000 level.
Stops are building below the 1.3890 level with a slide back toward 1.3825 expected if that level is lost on a sustained basis. Traders see selling from model funds on the latest side.
