EUR/USD Technical Analysis: Further consolidation above 1.1100 prevails in the very near term

• EUR/USD is extending the rangebound pattern just above the 1.1100 area sparked in the wake of the ECB event last week.
• The negative bias remains entrenched while below the 55-day SMA at 1.1233 and recent tops in the 1.1280/90 band.
• Against this backdrop, another test of YTD lows in the 1.1100 neighbourhood remains well on the cards in the short-term horizon.

EUR/USD daily chart