On a fundamental basis - i'd like to comment, that this selling is way over-done. Because, although the Federal Reserve in the US, is raising rates aggressively, everyone knows you can't destroy your own economy based on the idea that raising interest rates is the best way to contain inflation.
What you're looking at, is essentially a herd-movement downwards. People are looking for a catalyst to stop the selling pressure. I have no positions on at all - simply put, this move downwards is absurd. The US has more deficit spending every-day, such that it cannot go on like this in the Euro/USD markets.