EUR/USD closed virtually unchanged on Thursday and was last seen clinging to small daily gains above 1.10. Economists at OCBC Bank see risks tilted to the downside, with the 1.0950 and 1.0900 levels as next bearish targets.

Heavy within range

“Range-bound for now, but with a bias to search lower towards 1.0950 and 1.0900.”

“As the Russia-Ukraine concerns consistently fade from the market’s view, the focus will likely revert back to front-end yield differentials, which should point to further downside for the pair.”