06:01 AM EDT, 09/26/2024 (MT Newswires) -- The support from China's stimulus story waned on Wednesday and EUR/USD's exploration above 1.1200 proved to be very short-lived amid quarter-end US dollar (USD) buying, said ING.

Investors will likely see a bit more range-bound swings around the 1.110-1.120 area in the near term unless United States data offers clearer direction to markets, wrote the bank in a note.

A two-year EUR:USD swap rate gap tighter than -100bps, now at -95bps, is still arguing against a major correction in the pair.

The eurozone calendar is rather quiet on Thursday, but there are three key European Central Bank speakers, stated ING. President Christine Lagarde will give a welcome address at a conference -- but may not touch upon monetary policy -- while the dovish-leaning Vice President Luis De Guindos and hawkish-leaning Isabel Schnabel are due to speak later in the day.