• EUR/USD traded a rough 1.15-20 range for first half of 2026

• The pair appears to have slipped into a lower range

• Mid-point of the developing range could be around 1.1550

• July low 1.1325, August peak 1.1711, Sep range 1.1455-1.1654

• Current drop stretched below 1.1500 base 20-day Bollingers

• Volatility is very low which suggests little movement ahead

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