EUR/USD could trade on the offered side for a few weeks yet – ING

EUR/USD extended its slide on Wednesday and touched its lowest level since early January at 1.0600. A move towards 1.05 is on the cards, economists at ING report.

EUR/USD remains soggy

“For the short term, EUR/USD remains soggy and it is hard to rule out a break under 1.0600 towards the 1.05 area.”

“Our game plan remains that 1.04/1.05 could now be some of the lowest EUR/USD levels of the year – but it feels like EUR/USD could trade on the offered side for a few weeks yet.”