FXStreet reports that Thomas Harr, PhD, Global Head of FI&C Research at Danske Bank does not expect a recovery for the euro while some investors argued that the risk is higher for 1.20 in the EUR/USD pair.

"I believe the USD will remain strong particularly against European currencies due to capital flows."

"I have had many meetings with investors who argued that the risk is higher for 1.20 than parity in EUR/USD and the 'pain-trade' is for a stronger EUR/USD. I disagree with that view, as I believe that some investors added EUR/USD longs early in the year banking on an upside European growth surprise."