EUR/USD has rarely traded outside of 1.0500-1.1000 this year and moves beyond those bounds have been fleeting.
With volatility dropping this week - as uncertainty surrounding events in the Middle East - there is a growing chance that EUR/USD sees out this year at familiar levels.
The reduction of bets on EUR/USD moving is suppressing volatility which means it is likely be quieter in the future.
If so there is less chance that EUR/USD moves on to unfamiliar ground.
There have only been eight drops below 1.0500 this year - all but one of these occurring in September and October, and there have been three significant lows close to that point.
In January EUR/USD traded 1.0482 before rallying to 1.1034 in February.
During turmoil stemming from stock markets in March, the pair reached 1.0517 before rallying to 1.1096 in April.
A rise to 1.0695 followed October's low at 1.0448 and while EUR/USD has since sunk 1.0521 it remains on very familiar ground.
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