The single currency is trading on a softer note vs. the greenback today, while market attention remain on US CPI figures and the FOMC meeting. Morten Helt, Senior Analyst at Danske Bank, argued “we believe that the recent improvement in risk sentiment and a likely more hawkish Fed will cap the top side in EUR/USD in the coming months. We continue to see EUR/USD in a 1.05-1.15 range in the coming months but still hold the view that EUR/USD will head substantially higher in 2016”. Furthermore, the research team at UOB Group added, “There is no much to add as EUR traded quietly yesterday. While the outlook is still bullish, upward momentum is clearly not very strong and as mentioned in recent updates, any upmove is likely limited to 1.1245. Overall, this pair has to move clearly above 1.1150 in the next couple of days or momentum indicators will continue to deteriorate. Stop-loss remains unchanged at 1.1000”. For more information, read our latest forex news.