European elections are being held Thursday, result expected by Sunday.

ING comment on what to expect:

  • EUR/USD upside will be limited

ING nominate the 1.1180/1200 area (ps. this was an overnight night pretty much nailed that one).

And now:

  • a stronger test of support at 1.1110/30.
  • We still like a lower EUR/JPY, given the risk that trade retaliation could easily un-nerve global equity markets again.