EUR/USD averted a move below 1.0950. Economists at ING analyze the pair’s outlook.

The Dollar leg should remain dominant

EUR/USD remains a Dollar story and with the US data calendar about to pick up (ADP, ISM services, payrolls), the Dollar leg should remain dominant given that most key Eurozone data was already published earlier this week.

More pressure on the pair is definitely on the cards should US data prove robust. A test of 1.0900 by the end of the week seems feasible.