Can EUR/USD Break Through the Range Constraint?

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The EUR/USD exchange rate continues to maintain a range-bound consolidation trend, currently trading around 1.1400. The dovish statements from European Central Bank (ECB) policymakers are offset by the positive economic signals in the Eurozone, leading to a wait-and-see sentiment in the market. In the short term, the EUR/USD exchange rate is expected to remain in a narrow range consolidation pattern. Technically, the exchange rate needs to break through the recent high to sustain the upward momentum; otherwise, it may return to the broader range of 1.12-1.15.

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