EUR/USD Surges Past Key Resistance as Fed Cut Weakens Dollar

EUR/USD has extended its bullish momentum, breaking above multiple technical resistance levels following the Federal Reserve's recent rate cut decision. The pair has capitalized on declining US Treasury yields, which have continued their downward trajectory in response to the Fed's dovish monetary policy stance. The persistent fall in yields has significantly weakened the US dollar across the board, providing strong tailwinds for the euro. Technical indicators show EUR/USD has breached the October resistance zone, signaling potential for further upside movement. The breakdown in US yields reinforces market expectations of a more accommodative Fed policy path ahead, maintaining pressure on the greenback. Traders should monitor the sustainability of this breakout, with immediate resistance likely at recent highs while support has formed at the broken October levels. The technical picture remains constructive for EUR/USD as long as US yields continue their descent.