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EUR/USD Forecast: Bullish breakout losses momentum as yields soar

2/25/2021 7:41:53 PM GMT EUR/USD Current Price: 1.2190 The US Q4 Gross Domestic Product was upwardly revised to 4.1%, as expected. US Treasury yields’ rally spurred demand for high-yielding assets. EUR/USD retreats from fresh 2021 highs, holds above critical Fibonacci level. The EUR/USD pair peaked at 1.2242, its highest since early January, finally breaching the 1.2170/80 resistance area. The pair rallied on the back of risk-appetite which dominated financial markets throughout the first half of the day but faded after US investors reached their desks. European indexes closed mixed, while US ones edged lower, erasing pre-opening gains.  Meanwhile, US Treasury yields extended their rallies to fresh one-year highs, boosted by encouraging US data.

EUR/USD aims to complete a full retracement to 1 2349

EUR/USD aims to complete a full retracement to 1 2349
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