EUR/USD has recovered to the 1.2230s from lows at 1.2209. Likewise, USD/JPY has bounced from an 89.99 low to the 90.10 region. Equities and oil are off their lows but are still pressured. Oil is down $2 and the S&P is down 0.5%.
Look for offers in EUR/USD in the 1.2240/50 area with small short-covering seen if we can claw back above 1.2250.
