EUR/USD: The chances of a decisive break lower have likely declined – ING

EUR/USD is trading on the defensive below 1.0850 but chances of a break lower have declined, economists at ING report.

We could see a stabilisation in EUR/USD today

“The improvement in the rhetoric by Biden and McCarthy and the positive reaction in US equity markets suggests we could see a stabilisation in EUR/USD today.”

“The chances of 1.0800 being tested remain tangible, but those of a decisive break lower have likely declined.”

See – EUR/USD: Not minded to buy this dip below 1.0900 – Credit Suisse