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EUR/USD bounces from below 1.2400

FXStreet (Córdoba) - EUR/USD fell sharply and hit a fresh cycle low weighed by ECB Draghi comments on monetary policy.

EUR/USD briefly dipped below the 1.2400 and hit its lowest level in 26 months at 1.2395 before finding support and bouncing back to the 1.2450 zone. It seems investors are not willing to push the pair much lower ahead of the US nonfarm payrolls tomorrow and EUR/USD might enjoy a phase of consolidation and take a breather over the next sessions.

With the recovery attempt being capped by 1.2447, EUR/USD is currently trading at 1.2430, recording a 0.44% loss on the day.

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