EUR/USD is consolidating near 1.05. Economists at ING expect the world’s most popular currency pair to move within a 1.04-1.06 range.

EUR/USD could go below parity were conditions to deteriorate further

“At 1.05, EUR/USD is not particularly cheap based on our medium-term fair value models – and could go below parity were conditions to deteriorate further.”

“1.0400-1.0600 looks like the near-term EUR/USD trading range, with rallies likely to be limited ahead of tomorrow's Senate testimony from Powell.”