EUR/USD is moving sideways in the 1.1030 / 40 range. Before the important ECB event on Thursday, consolidation is expected to continue. An attempt to break out should encounter resistance at 1.1075 / 84, where the 21-day SMA and last week’s high are.
Overall, the outlook remains negative as long as the 55-day SMA of 1.1165 is intact. This area is strengthened by the end of August high of 1.1163 (26 August).