EUR/USD is holding under 1.0900. Economists at ING analyze the pair’s outlook.
Dovish ECB commentary continues
The lack of market-moving data releases left EUR/USD to being driven by the dollar rebound, while some dovish comments by European Central Bank officials have hardly given markets a reason to hang on to the Euro.
EUR/USD is trading at more sustainable levels now, and we think it can remain under modest pressure into the FOMC meeting.
There are a few key moving average supports between 1.0840 and 1.0860: if broken, we could see the pair test 1.0800 in the coming days.
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