EUR/USD: 1.0725-1.0800 looks to be the short-term range – ING

EUR/USD has tested the December low of 1.0725 in recent days. Economists at ING analyze the pair’s outlook.

Bears not particularly enthusiastic

Even though EUR/USD has come lower, the FX options market suggests there has been little conviction about the move. 

It seems we are in a new EUR/USD holding pattern at slowly lower levels. That looks likely to be the case into Friday's release of the US CPI revisions.

1.0725-1.0800 looks to be the short-term EUR/USD range.

See: The Euro simply has little to offer against the strength of the USD at the moment – Commerzbank