• EUR/USD rise in 2025 has encouraged traders to bet on bigger gains

• The rally became stretched resulting in consolidation phase

• Rally is still fairly stretched toward 1.1455 peak 20-month Bollingers

• Volatility dropping, increasing importance of int/rates weighing EUR/USD

• The rate divide weighing EUR/USD has grown following ECB cut on Thursday

• The chance traders reduce risk to book profits is increasing

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EURUSD

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