EUR/USD could press the 1.0810/20 area if NFP does not come in too hot – ING

Economists at ING analyze EUR/USD outlook ahead of the US Nonfarm Payrolls report.

1.05-1.07 area to mark the base in the second quarter

Today's US data will have a big say in determining whether this week's EUR/USD low of 1.0635 was significant.

As we have been saying here over the last few weeks, we have expected the 1.05-1.07 area to mark the base in the second quarter, so let's see whether we get much of a rally from here. 

EUR/USD could press the 1.0810/20 area if NFP does not come in too hot, with outside risk to 1.0865.

See – Nonfarm Payrolls Preview: Banks expect labor market to lose momentum only slowly