ING projects a 1.13 one-month target for EUR/USD, noting that while recent tech-driven dollar unwinding has bolstered the pair, firm Fed policy and regional fiscal risks limit further gains.
ING analyst Chris Turner maintains a cautious outlook for EUR/USD, noting that while the pair has shown resilience against French budget risks and elevated energy costs, its upside remains structurally constrained. The pair is currently supported by the unwinding of long-dollar and long-tech positions, but firm Federal Reserve tightening expectations and a generally strong US dollar are expected to limit significant gains in the near term.
ING projects a one-month forecast of 1.13.
The pair is being supported by the unwinding of heavy US tech and Dollar positions.
ING strategist Chris Turner maintains a cautious outlook for the EUR/USD pair, citing persistent US dollar strength and firm Federal Reserve tightening expectations. While recent tech-led dollar corrections have provided temporary support, structural headwinds from energy prices and French fiscal risks continue to constrain significant upward momentum.
ING maintains a bearish to neutral stance, forecasting the pair at 1.13 in the short term due to firm Fed tightening expectations and a strong US dollar.