On Monday, EUR/USD returns to the 1.1300 area. The dollar remains strong despite continuing risk aversion. The US 10-year yield is trading defensively near 1.90%. The EUR/USD price forecast remains broadly bearish after breaking the 1.1400 level. It is attributed to the risk-off sentiment that strengthens the USD. The EUR/USD price continues to lose ground on Monday morning in Europe, testing the 1.1300 support line. –Are you interested in learning more about day trading brokers? Check our detailed guide- EUR/USD is influenced by geopolitics and risk aversion. Following the release of US inflation data for January (10th February), the EUR/USD has declined for a second straight session and continues to bounce off last week’s highs. A major driver of the pair’s price action continues to be the short end of the US and German cash markets, especially after the recent FOMC and ECB meetings. Germany’s 10-year yield continues to correct lower from recent highs while widening the spread gap against its US counterpart, which remains another weakness for the pair. Chairperson Lagarde’s later speech will attract some attention on the old continent, but there are no upcoming events on either side of the Atlantic. In the wake of US consumer price hikes, EUR/USD failed to withstand the 1.1500 level, leading to a correction towards the 1.1300 limits in response to a renewed and fairly strong bias to the US dollar. However, in spite of sustained gains, the pair’s improving prospects appear to be supported by renewed speculation of a potential ECB rate hike sometime later in the year, higher yields in Germany, persistently high inflation, and a reasonable pace of economic growth in other key indicators in the region. Get FREE Forex Signals Now! The following major Eurozone events will take place this week: ECB Lagarde (Monday), ZEW Economic Sentiment (Tuesday), EMU Industrial Production (Wednesday), and EMU Consumer Confidence Express (Friday). EUR/USD price technical forecast: Bears crack 200-SMA The EUR/USD price has been floating near the intraday lows of the 1.1300 area. This is a very crucial support that might break if the bears continue to push hard. The 200-period SMA on the 4-hour chart has been broken too. All the key SMAs are sloping down, the point at further losses. The average daily range is 80% higher than the usual during the early European session. –Are you interested in learning more about day trading brokers? Check our detailed guide- The volume data supports the bears for now. Any move below 1.1300 will lead towards 1.1260 ahead of 1.1200. Alternatively, the upside correction may seem limited, around 1.1330 ahead of 1.1375 and 1.1400. Looking to trade forex now? Invest at eToro! Trade Forex Now! 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal EUR/USD Daily share Read Next GBP/USD Forecast: Upside Invalidated, 1.35 Breakdown In Cards Olimpiu Tuns 2 months On Monday, EUR/USD returns to the 1.1300 area. The dollar remains strong despite continuing risk aversion. The US 10-year yield is trading defensively near 1.90%. The EUR/USD price forecast remains broadly bearish after breaking the 1.1400 level. It is attributed to the risk-off sentiment that strengthens the USD. The EUR/USD price continues to lose ground on Monday morning in Europe, testing the 1.1300 support line. -Are you interested in learning more about day trading brokers? Check our detailed guide- EUR/USD is influenced by geopolitics and risk aversion. Following the release of US inflation data for January (10th February), the EUR/USD… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.