EUR/USD could head to 1.0780 and perhaps 1.0750 under 1.0800 support – ING

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28 March 2024

EUR/USD could head to 1.0780 and perhaps 1.0750 under 1.0800 support – ING

EUR/USD holds slightly above the 1.0800 level. Economists at ING analyze the pair’s outlook.

Trading conditions will continue to be sticky

We suspect that if it were not for month-end portfolio re-balancing flows, EUR/USD would be trading below 1.0800 now. And that looks the risk heading into Friday's release of February core PCE inflation data for the US, which is expected at a sticky 0.3% month-on-month.

Under 1.0800 support, we could see EUR/USD heading to 1.0780 and perhaps 1.0750. However, one month EUR/USD traded volatility below 5% suggests trading conditions will continue to be sticky.

EUR/USD could crack the 1.0800 mark on the Easter weekend – Commerzbank

Austria Producer Price Index (YoY) rose from previous -7.2% to -6.4% in February

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