EUR/USD: 1.0650 seems the risk today – ING

EUR/USD did not even get to test resistance at 1.0765 before falling back. Economists at ING analyze the pair’s outlook.

The baseline may be some kind of 1.0550-1.0750 range now

1.0650 seems the risk today given the event risk of hawkish Fed speakers.

The Euro story looks weak and EUR/USD will only rally if the US story is weak enough to trigger some clear bullish flattening of the US yield curve. That scenario looks premature. The baseline may be some kind of 1.0550-1.0750 range now unless the US data takes a decided turn for the worse.