Economists at TD Securities expect the EUR/USD to move within a 1.05-1.11 range through the second quarter of the year. Thus, the pair is nearing the lower end of the range.

EUR upside this year

“While we continue to see EUR upside this year, we have downshifted our anticipated range versus the USD.”

“We now see EUR/USD in a 1.05-1.11 range through Q2, suggesting we're getting close to buy the dip territory.”

“EUR's drivers are broad-based reflecting the importance of China reopening, the easing terms of trade shock, relative growth and central bank outlooks.”