#EURUSD @ 1.09017 could struggle to extend its rally through resistance at 1.0950/1000 – ING
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EUR/USD gained traction to start the week and touched its highest level since mid-April above 1.0900. However, economists at ING expect the pair to remain below the 1.0950/1000 region.
“We suspect investors may be reluctant to chase EUR/USD through resistance at 1.0950/1000 ahead of next week’s central bank event risks.”
“Germany’s Ifo on Wednesday will be particularly interesting to see whether the expectations component picks up anywhere near as sharply as the German ZEW investor survey.”
“A bullish wildcard for the Euro could come from any further comments on new joint EU bond issuance to support green investments, as European politicians attempt to support local industry in the face of President Biden’s Inflation Reduction Act.”
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