EUR/USD is coiled and ready to spring after carving out a well-defined range bordered by 1.2330 on the base and 1.2585 on top. Mixing technicals and fundamentals, follow-through buying in US equities could give the market the fuel to breakout of the range to the topside. A roughly 2.5% move in either direction if prices break the range in a sustained way.
1.2075 is the downside target if the base gives way while 1.2840 is the topside terminus.
