Extended consolidation likely to precede fresh attack at key 1.11 support zone
The Euro holds in extended consolidation above new 2019 low (1.1101) but remains biased lower, following limited upside action and technical studies in full bearish setup.
Bears look for eventual break through cracked key 1.11 support zone that would open way towards psychological 1.10 support.
Meanwhile, the pair may hold in prolonged consolidation, awaiting fresh signals from Fed rate decision later this week.
Fresh upticks can be also anticipated as daily stochastic is emerging from oversold territory, but flat momentum warns of another limited recovery attempt.
Falling 5DMA offers immediate resistance at 1.1137, with more significant barriers at 1.1180/90 zone (10DMA / former congestion lows), expected to cap and keep larger bears intact.
Only firm break above 1.1211/17 (Fibo 61.8% of 1.1280/1.1101 / 20DMA) would sideline bears and signal further recovery.
Res: 1.1137; 1.1150; 1.1190; 1.1211
Sup: 1.1117; 1.1101; 1.1050; 1.1019