EUR/USD capitalized on the improving market mood and recovered to the 1.1350 area on Tuesday. Economists at ING believe the pair could target the 1.14 level amid heightened hopes for a de-escalation of the Russia-Ukraine conflict.

Room for a move to 1.1400

“EUR/USD climbed as markets turned more optimistic on a diplomatic resolution in Ukraine yesterday, and may remain bid today should geopolitical sentiment continue to improve.”

“Further de-escalation in Ukraine could aid a continuation of the rebound to 1.1400.”