EUR/USD stays relatively quiet below 1.1300. This level should be a tough resistance, in the opinion of economists at ING.

EUR/USD to remain in the 1.1250/1.1300 area

“EUR/USD has remained quite bid, now eyeing the 1.1300 level. This is a level that could indeed see some resistance and attract many sellers, so we are inclined to think EUR/USD will remain in the 1.1250/1.1300 area into tomorrow’s ECB meeting.”

“We see mostly downside risks for the pair as the hawkish bar has been set higher after the strong German CPI numbers on Monday and we expect President Lagarde to keep showing patience on inflation and tightening.”