EUR/USD Pauses at Key Range Amid Fed Decision Uncertainty

The EUR/USD pair is trading at $1.1449, up 0.54% on the day, and has shown short-term upside momentum.

However, market participants are maintaining a cautious stance ahead of the Federal Reserve's interest rate decision, as policy uncertainty drives positioning.

The euro faces additional weakness from subdued European Central Bank rate expectations and elevated Eurozone bond yields linked to higher oil prices and geopolitical risk.

EUR/USD is expected to consolidate inside the $1.1399, $1.1513 range in the next 2-3 sessions, with a bullish scenario targeting the upper bound of this corridor.