The shared currency kept the negative tone through early NA session on Monday, with the EUR/USD pair retreating from fresh 2-year tops near 1.1685 level. Currently hovering around mid-1.1600s, off session lows touched during the early European session, receding US Dollar selling pressure has been one of the key factors that could have prompted some profit taking at higher level. This coupled with a slight miss from the Euro-zone PMI prints have also failed to provide any fresh bullish impetus to the major. Meanwhile, investors seemed reluctant to initiate fresh aggressive bets ahead of this week's key event risk - FOMC monetary policy decision on Wednesday, which has eventually led to minor retracement/consolidative price-action at the start of a new trading week. Despite the pullback, investors' sentiment remains biased to the bullish side amid growing expectations of a possible ECB tapering at the September meeting. Moreover, growing uncertainty over the Trump administration’s pro-growth economic agenda might now restrict any swift US Dollar recovery and hence, an extension of the pair's near-term appreciating move, even beyond the 1.1700 handle, now seems a distinct possibility. In the meantime, today's release of existing home sales data from the US, due in a short while from now would now be looked upon for some trading impetus.