**BREAKING: EUR/USD Range Persists as Eurozone Growth Outlook Darkens**
The euro remains trapped in a trading range against the dollar despite recent G10 central bank policy actions failing to generate significant currency volatility, according to Kit Juckes at Societe Generale. The strategist warns of a downside bias toward 1.1200 as the Eurozone faces deeper GDP forecast cuts compared to other major economies.
While central banks across developed markets have been active, their moves have yet to break EUR/USD out of its established boundaries. The divergence in economic outlooks is becoming increasingly stark, with Eurozone growth projections being slashed more aggressively than competing regions, putting structural pressure on the single currency.
Traders should watch for any breach below the range support as weakening European fundamentals could accelerate downward momentum. The lack of FX response to monetary policy shifts suggests markets are prioritizing growth differentials over rate expectations in current positioning.
**
FXnCO Insight
** EUR/USD traders should prepare for potential downside breaks toward 1.1200, with deteriorating Eurozone growth forecasts creating a fundamental headwind that central bank action hasn’t offset.
Source: FXStreet