• EUR/USD which rapidly reached 1.1573 in April has traded sideways since

• Pair dropped to 1.1065 in May before rallying to 1.1495 In June

• EUR/USD slips to 1.1386 on June 10

• Centre point of May-June consolidation is 1.1280

• Traders are betting almost $12 billion that EUR/USD rises further

• Oil is rallying which will undermine EUR/USD

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EURUSD

(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)