The EUR/USD opens around 1.0990 after rising 0.15% on Friday

It is in consolidation mode after closing unchanged for the week

Sentiment remains bullish with IMM data showing net longs at 164 K contracts

Longs will likely persist if EUR/USD continues to hold 21-day MA at 1.0925

A close below 1.0925 suggests a top is forming and encourage longs to pare

Resistance has formed at last week's 1.1000 high

A clear break above 1.1000 targets the April 14 trend high at 1.1075

Consolidation may continue before the ECB and Fed meet first week of May

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