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- EURUSD could easily trade to 1.05 were conditions/data to fall into place – ING
EURUSD could easily trade to 1.05 were conditions/data to fall into place – ING
The severity of the EURUSD correction has caught out many. Economists at ING believe that the pair could race even higher to 1.05.
EURUSD may struggle to trade under 1.0250/70 today
“The very difficult question is whether this short EURUSD squeeze has run its course near 1.0365 or needs to trade higher still. Given the depth, conviction, and one-sided nature of long Dollar positioning (quite understandable given a sustained Dollar rally since summer 2021), we all need to be careful about prematurely calling an end to this correction. Indeed, EURUSD could easily trade to 1.05 were conditions/data to fall into place.”
“Pricing of the ECB tightening cycle has remained quite resilient over recent days – prompting quite a sharp narrowing in the two-year EUR-USD swap differential – normally a EURUSD positive. Those caught short EURUSD may mean EURUSD struggles to trade under 1.0250/70 today.”
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