EUR/USD: Short-term support levels at 1.0910/30 should hold to maintain last week's bullish momentum – ING EURUSD China USDCNY Banks
Investors seem a little disappointed that Friday's State Council meeting in China did not result in any fresh stimulus - hence the spike in USD/CNH back to 7.15 today. Chartists will be looking for this USD/CNH rally to stall at 7.15/16 – failure to do so could keep the Dollar a little better bid and weigh on EUR/USD.
We continue to favour a near-term move to 1.1000/30 and probably higher as investors position for the second half Dollar decline.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
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