Euro: Range tests with upside bias against US Dollar – ING
ING’s Francesco Pesole keeps a constructive stance on EUR/USD after recent US data, based on a view that the Federal Reserve is unlikely to deliver further tightening.
ING's Francesco Pesole takes a positive view on EUR/USD after recent US data, expecting the Federal Reserve to refrain from further tightening. He anticipates the pair to reach 1.1600 within weeks, 1.1700 in autumn, and 1.1800 by the end of the year. However, he warns that the absence of clear catalysts and Gulf risks might keep EUR/USD confined to tight ranges with low volatility.
Pesole's target for the coming weeks remains 1.1600, rising to 1.1700 in autumn and 1.1800 by year-end. If EUR/USD tests 1.1500 again, buyers are likely to emerge, potentially pushing the range higher to 1.1500-1.1600.
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