EUR/USD could plummet to the big figure of 1.05 – ING

FXStreet Insights Team FXStreet

How low could EUR/USD go? The pair has decisively broken below 1.10 and economists at ING believe that the pair could fall as low as 1.05.

Will the ECB intervene?

“Support levels seem to be around the 1.0760/70 area and then the March 2020 lows of 1.0640 – but probably at times like these, big figures of e.g. 1.0500 become more relevant.”

“There is a continental war on and the ECB would not want to get involved in an ineffective intervention campaign. Were things to get out of hand, we would think coordinated G5 intervention to support EUR/USD would be more likely than ECB's own account intervention. But that may not occur until closer to parity.”

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FXStreet Insights Team

FXStreet

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