The pair popped up to 1.2075 after news broke out

But still unable to find a leg higher to test the 2018 highs. The trading range remains rather limited on the day, only 44 pips so far.

Markets have generally been rather quiet today, it almost feels like a NFP Friday somehow. Anyway, the pair jumped up after the news broke out but has since retreated a little back down to 1.2065.

It looks like the platform is all set for today's US CPI data later on. Markets appear to be cautious ahead of the data release, and that will ultimately decide things on the day. But also, be wary of large option expiries in EUR/USD that may keep price action stuck for a bit.