EUR/USD: Trapped in a range around 1.13 – Danske Bank

Sandeep Kanihama FXStreet Contributor

Analysts at Danske Bank are expecting the EUR/USD pair to be trapped in a range around 1.13 on 3M horizon, but with risks tilted to the downside as ECB will be forced to keep a soft stance at a time when Fed looks more sidelined.

Key Quotes

“Beyond the 6M horizon, a drift higher will materialise as the skies clear a bit for the Eurozone, but we still merely target 1.17 in 12M.”

“For now, ECB has effectively put a lid on the cross – today keep an eye on speakers at the ECB Watchers’ conference.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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