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EUR/USD nearly challenged resistance at 1.1991 during the overnight trade. That level marks the 38.2% Fibonacci retracement of the sell-off from the Feb. 25 high of 1.2243 to the March 9 low of 1.1836. The long tail attached to the weekly candle indicates seller fatigue and neutralizes the immediate bearish view. That said, the outlook would turn bullish if and when the pair takes out resistance of the trendline falling from January and February highs. The US 10-year yield is looking to extend Thursday's sharp rebound from 1.47% to 1.55% and possibly helping the dollar gain ground against the EUR and other major currencies. Analysts at Deutsche Bank now see the 10-year yield rising to 2.25% by the end of 2021. That's a full percentage point hike in the year-end forecast. Earlier this week, Goldman Sachs revised its forecast for the 10-year yield higher to 1.90%. And lastly, the Eurozone's slow vaccine delivery and coronavirus lockdowns could keep the EUR bulls at bay – more so, as the European Central Bank said Thursday it's willing to accelerate money printing to keep bond yields under check. Meanwhile, Federal Reserve's officials have so far refrained from making any such commitment and called rising yields a sign of economic optimism. Data-wise, the focus today will be on the German Consumer Price Index for February, Eurozone's Industrial Production, the US Producer Price Index, and the US Michigan Consumer Sentiment Index.