EURUSD set to move back lower toward 0.95 – ING

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EURUSD trades in positive territory early Friday and continues to edge higher toward 0.98. However, economists at ING expect the pair to return to the 0.95 level.

“EURUSD remains primarily a function of Dollar moves, and today’s US payrolls release should continue to put pressure on the pair.”

“Having now moved back to the trading ranges seen before the late-October correction (which has proven exceptionally short-lived), we think markets have switched back to a more structurally bearish tone on EURUSD, and a return to 0.9500 is our base case in the near term.”

See – NFP Preview: Forecasts from 10 major banks, further significant job growth

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