EURUSD set to move back lower toward 0.95 – ING

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.

NFP report should continue to put pressure on EURUSD

“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.”

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