USD Flat vs Majors as EUR/USD, USD/JPY, GBP/USD Consolidate

The U.S. dollar is trading virtually unchanged against all major currencies at the start of the North American session, with EUR/USD, USD/JPY, and GBP/USD all within 0.13% of their opening levels. The tight ranges suggest markets are in a holding pattern following yesterday's significant CPI-driven moves, awaiting the next catalyst for directional conviction. Several major U.S. data releases are expected to provide the next potential shove for these pairs. From a technical standpoint, all three major pairs are trading in confined ranges, with key support and resistance levels well-defined on the hourly charts. The consolidation phase reflects a market digesting the implications of softer U.S. inflation data while weighing upcoming economic releases and central bank commentary. Traders should be prepared for potential breakouts from these tight ranges as new data hits the wires. Low volatility environments often precede sharp directional moves, making risk management and level identification particularly important during this session.