EUR/USD: Support around 1.0730-1.0750 would be a welcome development for bulls – ING

EUR/USD lost more than 100 pips on Friday and closed below 1.0800. Economists at ING expect the pair to find firm support at the 1.0730-50 region.  

Euro is highly exposed to a worsening in Chinese sentiment

“Given the ongoing correction and soft momentum in EUR/USD, support around 1.0730-1.0750 in the pair would already be a welcome development for EUR bulls.” 

“Remember that the Euro is highly exposed to a worsening in Chinese sentiment.”

“We think that any rebound may lose steam around the 1.0870-1.0900 area.”