The EUR/USD pair extends its consolidative range this Monday, and remains attached to the 1.1165 region, the 61.8% retracement of the post-FED rally, where it's has been hovering ever since the end of last week. Most Asian and European markets are closed this Monday, but later today the US will open, and the country will release its Personal income and spending, alongside with personal consumption expenditures data for February. The readings can support latest dollar's strength, particularly as the market has not had time yet to absorb the good GDP revision of last Friday. .
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In the meantime, the 4 hours chart shows that the price is a few pips below a bearish 20 SMA, and that the technical indicators are recovering within bearish territory, not enough still to confirm an upward continuation. Last week low stands at 1.1143 and a break below it should lead to a continued decline towards the 1.1080/1.1100 region, while only a steady advance beyond 1.1200 could see the pair recovering the upward potential, and rally up to 1.1245 first, and 1.1290 then.
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