#EURUSD @ 1.05364 could drift up to 1.08 and even 1.0950/1.1000 on a close above 1.0600/10610 – ING
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EUR/USD failed to make a decisive move in either direction and closed the day flat. Economists at ING highlight two key technical levels to watch.
“If we were to pick out two levels, we would say the 1.0600/10610 area is key resistance. A close above that on a soft US CPI release would warn of a lot more pain into year-end and EUR/USD drifting up to 1.08 and even 1.0950/1.1000.”
“On the downside, the 200-Day Moving Average is now 1.0350 and would be a level any investors trapped long Dollars at higher levels might choose to offload some Dollars.”
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