EUR/USD is quietly making its way to the upside. What’s next?
Here is their view, courtesy of eFXdata:
ING discusses EUR/USD technical outlook and maintains a neutral bias on a multi-days basis.
“The short-term recovery scenario continues, confirmed by the further improving daily momentum chart. Prices are currently pounding against the declining MA-50 line at 1.1303. A clear close above this moving average line suggests further upside with next overhead resistance coming in at the upper end of the falling trend channel around 1.1385 with the declining EMA-200 line currently coming in at 1.1453,” ING notes.
“Our long-term view remains bearish and we are still looking for the next selling opportunity to downgrade our rating. For now, we stick to our ‘Neutral’ rating,” ING adds.
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