EUR/USD Finds Support at 100-Day Moving Average Amid Mixed Week

EUR: 100 day moving average seems to be holding EUR/USD

EUR: 100 day moving average seems to be holding EUR/USD

The softer headline US employment figure provided something of a reprieve to EUR/USD on Friday. The pair also seemed to find support around the 100-day Moving Average - which is now just above 1.0920. Whilst that holds, some trend followers will be able to hang onto their bullish EUR/USD views.

As mentioned above, it looks like another mixed week for FX markets. This suggests EUR/USD should largely be range-bound around 1.10. Locally we have some second-tier European data and an ECB consumer expectations survey (Tuesday) as inputs. However, these look unlikely to move the needle on market pricing for one final ECB hike by year-end. Currently the market prices around 18bp of tightening by December.

ING Economics

INGs global economists and strategists tell you whats happening and is likely to happen in the world of global markets.

Our analysis and forecasts will help you respond and stay a step ahead in the world of macroeconomics, central banks, FX, commodities and everything else in between. Visit ING.com.

Follow ING Economics on social media:

Twitter | LinkedIn

Topics

eur/usd Support European data FX markets tightening year-end market pricing ECB consumer expectations survey market prices range bound 100-day moving average US employment figure trend followers bullish views ECB hike

Table of contents