• EUR/USD off session lows to trade broadly flat, ranges tight (1.1410–1.1450) with catalysts lacking

• Market reluctant to chase EUR upside evidenced by backing off from post-payrolls squeeze high at 1.1473

• 1.1473 now the key near-term, break opens up 1.15. Failure keeps downside risks in play

• Light data calendar reinforces consolidation bias into US.. CPI (14 July)

• Support at 1.1350–1.1360, then 1.1300–1.1320
EURUSD hourly chart


Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))