EUR: Rally needs a helping hand – ING

FXStreet Insights Team FXStreet

EUR/USD is becalmed after finding support below 1.15 last week, ING's FX analyst Chris Turner notes.

EUR/USD might find support at 1.1515/1530

"Most probably think that 1.15 proves the bottom of the range, but the rally needs a helping hand. One source of that could be an end to the government shutdown and the release of delayed US data, such as the September or October US non-farm payrolls report. But frankly, that feels like clutching at straws as we start the week."

"In terms of eurozone data this week, we've got some investor sentiment data in the form of the German ZEW tomorrow. And later this week, we should also see third-quarter eurozone GDP data confirmed at 0.2% quarter-on-quarter."

"Again, if last week's 1.1470 low is to prove significant, EUR/USD should somehow find support at 1.1515/1530 through the early part of this week."

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FXStreet Insights Team

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