EUR/USD: Break above 1.1375/85 resistance to open the door for further gains – ING

EUR/USD trades in a relatively tight range around 1.1350 on Thursday as market participants await the accounts of the European Central Bank (ECB) December policy meeting. 

December ECB minutes in focus today

“EUR/USD is drifting in tight ranges and may continue to do so today.”

“The highlight will be the release of the December ECB minutes. Typically these minutes do not prove too controversial and look unlikely to make any case for the ECB to be in a hurry to raise rates.” 

“We would like to think that 1.1375/85 resistance can hold EUR/USD intra-day – otherwise, we may be looking at a broadly weaker dollar environment.”