EUR/USD misplaced greater than 100 pips final week. Economists at ING imagine that the pair may retest May’s lows.
Retesting May’s lows?
“The data calendar is rather quiet this week in the eurozone and several ECB speakers may still fail to generate any material jitters in EUR/USD.”
“We think the pair runs a bigger risk of retesting the 1.0380 May lows in the coming days rather than returning to the 1.0500-1.0600 area, given the still unstable global risk environment.”