EUR/USD to tick down toward the 1.1300 level – ING

EUR/USD climbed toward 1.1400 on Wednesday but ended up closing the day around 1.1370. Economists at ING expect the pair to inch lower toward 1.1300 as as geopolitics stay in limelight.

Resistance at 1.1400 may continue to hold

“EUR/USD was rejected at the 1.1400 level yesterday, a resistance that may continue to hold today as the dollar could stabilise.”

“The risks for today appear more skewed towards a pull-back to the 1.1300 level as markets may have turned too optimistic too soon on a diplomatic solution in Ukraine.”