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Nov 23 - 06:55 PM

EUR: Pausing For A Breather, But Still Vulnerable - ING

By eFXdata  —  Nov 23 - 03:00 PM

ING Research maintains a bearish bias on EUR/USD in the near-term.

"EUR/USD continued its fall, now trading in the lower-half of the 1.12/1.13 range. While widespread dollar strength was mostly behind yesterday’s leg lower in the pair, the common currency is also dealing with a worsening of the Covid situation in Europe," ING notes. 

"The data-flow is also looking unlikely to come to the rescue of the EUR. A potential pause in the dollar’s appreciation today may give EUR/USD some rest, but the risks remain skewed to the downside and the recent break below 1.1250 may have paved the way for another leg lower to the 1.1170 support in the coming days," ING adds. 

Source:
ING Research/Market Commentary

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