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EUR/USD to retest 0.95 on a close back under 0.9910/00 this week – ING

EUR/USD is trading below parity. Economists at ING expect the world’s most popular currency pair to retest 0.95 on a break under 0.9910/00 this week.

The eurozone and the euro will continue to struggle

“With global growth under pressure from tighter rates and a misfiring Chinese economy, we think the eurozone and the euro will continue to struggle. That is why last Thursday's high of 1.0089 in EUR/USD could have been significant.”

“A close back under the 0.9900/9910 area this week would support our preferred view of EUR/USD retesting the lows near 0.95.”