EUR: Tracing out a new 1.12-1.15 EUR/USD range – ING

  • EUR/USD did some serious damage to the long-term charts last week and broke out of a bear trend which had roughly contained price action since 2008. 1.11/1.12 is now going to be important support, and presumably the buy-side (including both the private and public sectors) will now be EUR/USD buyers on dips as they wait for the tariff shock to materialise in hard US data.