FXstreet.com (Córdoba) - After hitting a fresh weekly low of 1.2241 at the beginning of the New York session, EUR/USD bounced strongly and regained the 1.2300 mark as stocks trim losses in Wall Street.
EUR/USD has risen over 70 pips from lows within the last hour, reversing early losses and turning positive for the day. At time of writing, EUR/USD is quoting at the 1.2310 zone, slightly above its opening price, having hit a daily high of 1.2316.
On the upside, immediate resistance could be found at the 1.2320 area where the 200-hour SMA lies, followed by 1.2360 and 1.2390. On the downside, supports are seen at 1.2240, 1.2200 and 1.2170.
