There is clean support at 1.0875/1.0880 – ING

EUR/USD is keeping the red below 1.0950. Economists at ING analyze the pair’s outlook.

A break of 1.0875 would open up 1.0800 on the day

Onto the day ahead, what catches our eye is a speech from the Federal Reserve’s Christopher Waller. We presume that he will not want to get involved in the fine-tuning of discussing a 2024 easing cycle, but not starting in March. We thus see event risk as a benign one – slightly negative for the Dollar and positive for risk.

For EUR/USD, there is clean support at 1.0875/1.0880. We think the Waller speech could see that support level hold and EUR/USD end higher on the day. If we are wrong about the contents of that speech, a break of 1.0875 opens up 1.0800 on the day.