10:03:58 28-03-2024
EUR/USD could head to 1.0780 and perhaps 1.0750 under 1.0800 support – ING
EUR/USD holds slightly above the 1.0800 level. Economists at ING analyze the pair’s outlook.
Trading conditions will continue to be sticky
We suspect that if it were not for month-end portfolio re-balancing flows, EUR/USD would be trading below 1.0800 now. And that looks the risk heading into Friday's release of February core PCE inflation data for the US, which is expected at a sticky 0.3% month-on-month.
Under 1.0800 support, we could see EUR/USD heading to 1.0780 and perhaps 1.0750. However, one month EUR/USD traded volatility below 5% suggests trading conditions will continue to be sticky.