• EUR/USD running into resistance around base 2023 and 2024 ranges

• The old 1.05-1.10 range has almost certainly dropped in 2025

• Sustained weakness below low end of prior range heralds lower future ranges

• Feb's plunge to 1.0125 EBS revealed lack of preparation for a drop

• Base of developing range may be parity but break risks deeper, speedier fall

• There are far less options below parity than above it

• Masses of topside interests will help stymie the rally

• Oversold conditions leading to reverse from 1.0125 above 1.05 now alleviated

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EURUSD

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