EUR/USD: Direction of travel looks towards the 1.09 area – ING

EUR/USD has touched its highest level in nearly eight months at 1.0777. Economists at ING expect the pair to extend its mover higher towards 1.09.

1.0660/1.0700 might well contain any downside

“We are still seeing eurozone equity outperformance, which must be providing the Euro with some good support.”

“Assuming no upside surprises in CPI, the EUR/USD direction of travel looks towards the 1.09 area.”

“1.0660/1.0700 might well contain any downside today.”

See – US CPI Preview: Forecasts from 10 major banks, price pressures to ease further