#EURUSD @ 0.98577 : Unlikely to push ahead, 0.9950 is significant resistance – ING
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
EUR/USD has struggled to make the most of the softer dollar environment. Economists at ING expect the pair to struggle to knock down the 0.9950 barrier.
“The EUR/USD recovery has been pretty lacklustre and can be best described as a bear market consolidation. For reference, 0.9950 is now probably significant intra-day resistance, marking the top of this year’s bear channel.”
“Look out today for another soft set of PMI releases across Europe and the eurozone. And we doubt that Thursday’s 75 bps hike from the ECB will be a game-changer for EUR/USD.”
[/s2If]
Join Our Telegram Group
