EUR/USD has bounced over the last hours. However, economists at ING expect the pair to face stubborn resistance around the 0.9850/70 area and move back lower towards 0.95.

Noisier period for FX

“0.9850/0.9870 may prove intra-day resistance for EUR/USD – but high volatility and tighter liquidity mean that we're in a noisier period for FX.” 

“Ultimately, however, we think the pressure remains for EUR/USD to break below 0.95 later in the year.”