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- EUR/USD: Outside risk to the 1.04/1.05 area on a break below 1.0610/1.0630 support – ING
EUR/USD: Outside risk to the 1.04/1.05 area on a break below 1.0610/1.0630 support – ING
EUR/USD continues to trade in a listless fashion. Economists at ING analyze the pair’s outlook.
Dip to 1.05 seen as an opportunity to reset hedges ahead of seasonal Dollar weakness in November/December
EUR/USD has decent support in the 1.0610/1.0630 region, below which there is an outside risk to the 1.04/1.05 area. However, our strategic view remains that the US economy will converge on the anaemic growth in Europe next year and that the Dollar will weaken.
We would see a dip to the 1.05 area over the coming weeks as an opportunity to reset hedges ahead of seasonal Dollar weakness in November and December this year.
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