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- EUR/USD: Break below 1.0800 would signal a significant deterioration in market sentiment – ING
EUR/USD: Break below 1.0800 would signal a significant deterioration in market sentiment – ING
Economists at ING note that the EUR/USD pair should hold above 1.08 to avoid significant losses.
Watch the pivotal 1.0800 level
“This morning, we’ll have the only potential market-moving data release out of the Eurozone this week: the German ZEW surveys. Consensus is leaning towards a pessimistic read, with the expectations index falling again below zero and the ‘current situation’ index declining from -32.5 to -37.0. Still, the market impact shouldn’t be very material barring a sizeable deviation from consensus.”
“EUR/USD should remain primarily driven by the USD leg and the US debt-limit saga: we see 1.0800 as the key benchmark support, and a break below that level would probably signal a significant deterioration in market sentiment.”
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