USD Stalls in Tight Ranges as Major Pairs Trade Within 50-Pip Bands

The US dollar remained virtually unchanged during the early US session, with major currency pairs confined to exceptionally narrow trading ranges. EURUSD oscillated within a mere 30-pip range, while GBPUSD moved just 35 pips from low to high. USDJPY showed the broadest movement at 50 pips, matched by AUDUSD, while USDCHF, USDCAD, and NZDUSD traded in even tighter bands of 24, 26, and 22 pips respectively. This lack of directional momentum reflects a cautious market environment as traders await fresh catalysts. The subdued price action suggests consolidation patterns across the board, with neither bulls nor bears able to establish control. Technical traders face challenging conditions with limited opportunities for momentum-based strategies. The narrow ranges indicate potential for a volatility expansion once key economic data or central bank communications provide direction, making current levels critical for establishing positions ahead of potential breakouts.