EUR/USD: There does not seem a compelling case to buy the pair – ING

EUR/USD steadies near 1.0220. In the view of economists at ING, the pair does not show signs to buy it.

Too many challenges

“EUR/USD continues to languish near the lows and there does not seem a compelling case to buy it. Medium valuation considerations do not show it as particularly undervalued. And the larger geopolitical event risks leave Europe more exposed than North America.”

“Declining levels of implied volatility suggest investors may be in no mood to chase EUR/USD out of a 1.0100-1.0300 range near-term.”