EUR/USD is currently trading in a tight range amid eased geopolitical tensions and cautious market positioning ahead of the US CPI release. The recent softening of the US dollar reflects diminished expectations for aggressive Fed tightening, while the ECB’s easing inflation backdrop supports a pause in rate hikes. Technically, the pair is consolidating above key support near 1.14, with resistance looming near 1.18. Traders should watch for a decisive breakout to signal the next directional move: a break above 1.18 could trigger a rally, whereas a failure to hold 1.14 might open the door to further downside toward 1.10. The CPI print will be pivotal in shaping USD momentum and thus EUR/USD direction in the near term.