EUR/USD could test 1.0800 in the coming days – ING

EUR/USD is holding under 1.0900. Economists at ING analyze the pair’s outlook.

Dovish ECB commentary continues

The lack of market-moving data releases left EUR/USD to being driven by the dollar rebound, while some dovish comments by European Central Bank officials have hardly given markets a reason to hang on to the Euro.

EUR/USD is trading at more sustainable levels now, and we think it can remain under modest pressure into the FOMC meeting. 

There are a few key moving average supports between 1.0840 and 1.0860: if broken, we could see the pair test 1.0800 in the coming days.