EUR/USD closed lower due to profit taking on Friday as it consolidates some of the rally off last week's low. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it renews the rally off January's low, the 75% retracement level of the November-January decline crossing is the next upside target. Closes below Tuesday's low crossing would temper the near-term friendly outlook.