EUR/USD set to move back to 1.0275 – ING

EUR/USD struggles near 1.03. Economists at ING expect the pair to trade back lower toward the 1.0275 mark.

Gas developments remain worrying

“This week's move in gas prices has sent eurozone terms of trade towards the worst levels of the year and is a clean euro negative.”

“Given that we are slightly bullish on the dollar today, we think that the recent EUR/USD correction has stalled in the 1.0350/0400 resistance area and would favour a move back to 1.0275 today.”