EUR/USD fails to break 1.1700 – ING

The EUR/USD pair has failed to break above the 1.1700 resistance level. According to ING's FX analyst Francesco Pesole, the euro lacks momentum, while the USD is expected to strengthen ahead of upcoming inflation data. This situation presents specific risks to the market as particularly the strength of the USD leans heavily on economic indicators and central bank policies, which need to be closely monitored alongside those from the Eurozone. Moreover, the euro is maintaining a neutral stance in light of recent interest rate policies. Market participants must be mindful of the trends that may arise from forthcoming data announcements. Should a significantly stronger dollar trend surface, the EUR/USD may face downward pressure. Attention to upcoming market actions is critical. From a technical perspective, there could be short-term trading strategies aimed at breaking the 1.1700 resistance, but current circumstances suggest a neutral stance.