ING believes that the negative impact of the policy in Europe on EUR should not be lasting on the Forex.
«Despite the rise of populism in elections in Austria, we do not believe that there will be a negative impact persisting on the Euro. While the result is the same as that of Germany a few weeks ago, suggests a further slowdown in the euro zone integration, we see the normalization of the policy of the ECB as a driver of major EUR on the Forex.
This is very evident in the downward movements very limited with EUR/USD recently. Because of this, as for the period that followed the election of German, we do not believe that the political concerns which have led to a decline in the Euro will last.
For today, EUR/USD is broadly expected to fluctuate around 1.1800. «