EUR/USD should largely be range-bound around 1.10 – ING

Market news

7 August 2023

EUR/USD should largely be range-bound around 1.10 – ING

The softer headline US employment figure provided something of a reprieve to EUR/USD on Friday. Economists at ING expect the pair to hold 1.0920 – the 100-Day Moving Average.

100-DMA seems to be holding EUR/USD

The pair seemed to find support around the 100-DMA which is now just above 1.0920. Whilst that holds, some trend followers will be able to hang onto their bullish EUR/USD views.

It looks like another mixed week for FX markets. This suggests EUR/USD should largely be range-bound around 1.10.

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