EUR/USD: 1.05/1.06 is as good as it gets for Euro in December – ING EURUSD Banks
is well above 1.04. 1.05/1.06 is the risk for the world’s most popular currency pair, economists at ING note.“Resistance is clearly set at the 1.0480/1.0500 area, above which we could see a spike to the 1.0600/0620 area. That is not our preferred view, but thinning December markets and seasonal Dollar weakness mean that such a scenario cannot be ruled out.”
“Bigger picture, however, weak global demand is not a good story for the pro-cyclical Euro. Additionally, colder weather coming to northern Europe is starting to push gas prices higher again and keep the“We would like to think that 1.05/1.06 is as good as it gets for EUR/USD in December.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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