- EUR/USD to trade out something like a 1.0700-1.0900 range this month – ING
Market news
6 February 2024
EUR/USD to trade out something like a 1.0700-1.0900 range this month – ING
EUR/USD broke lower again on Monday. Economists at ING analyze the pair’s outlook.
Support at the 1.0715/1.0725 area
EUR/USD now has support at the 1.0715/1.0725 area.
EUR implied volatilities are staying quite low and suggest the market is not preparing for a major break out. We agree and think this will be more of a case of EUR/USD trading out something like a 1.0700-1.0900 range this month rather than pushing down to 1.0500.
See: EUR/USD will be more comfortable in a 1.0400 to 1.1200 range than at levels closer to 1.2000 – Rabobank
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