The euro is continuing to consolidate at lower levels in the near-term. After hitting an intra-day low of 1.1836 on 9th March, EUR/USD has been trading in a narrow range just below the 1.2000-level. Market sentiment towards the euro is becoming increasingly bearish and the world’s most popular currency pair is set to tank on a break below the 200-day moving average at 1.1860, economists at MUFG Bank brief. Key quotes “The next key support level is provided by the 200-day moving average which comes in at around 1.1860. The pair has not traded below the 200-day moving average since May of last year, and if broken would send a bearish signal that the correction lower so far this year is likely to extend further.” “It was revealed in the latest weekly report that the ECB has already stepped up the pace of purchases in response to upward pressure on government bond yields. Weekly net PEPP QE purchases were increased to EUR21 billion. An increase of roughly 50% compared to the pace in the previous four weeks.” “The stronger pushback from the ECB against rising long-term yields compared to the Fed and BoE which have adopted a more hands off approach has contributed in part to the sharp widening in yield spreads against the euro. The yield spread between the 10-year Treasury and German Bund has now fallen back to levels that were in place pre-pandemic at the start of last year.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next USD/JPY poised for extra consolidation near-term – UOB FX Street 1 year The euro is continuing to consolidate at lower levels in the near-term. After hitting an intra-day low of 1.1836 on 9th March, EUR/USD has been trading in a narrow range just below the 1.2000-level. Market sentiment towards the euro is becoming increasingly bearish and the world's most popular currency pair is set to tank on a break below the 200-day moving average at 1.1860, economists at MUFG Bank brief. Key quotes "The next key support level is provided by the 200-day moving average which comes in at around 1.1860. The pair has not traded below the 200-day moving average since… Regulated 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.