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Forex

EUR/USD Trades Range Bound, Bulls Hold the Line

Guavy AI Editorial Team
Instruments
EUR USD JPY
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The EUR/USD currency pair has been relatively calm over the past week and a half, following its bullish breakout after the FOMC rate decision two weeks ago.

While USD/JPY has dominated FX volatility headlines, EUR/USD retains a bullish lean due to its higher-high at resistance last week and support hold above 1.1500 this week.

The pair has been trading within a range, with the volatility that appeared weeks ago taking a backseat to back-and-forth price action.

EUR/USD's recent price movement can be attributed to several key events, including the ECB meeting in July, which wasn't particularly hawkish and led to selling off below 1.1500.

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