Analysts see 1.1615 as the critical level for EUR/USD to confirm upside momentum toward 1.1655 in the coming weeks.
EUR/USD briefly breached major resistance at 1.1615, reaching 1.1614 before retreating, leaving the pair in a near-term consolidation between 1.1560 and 1.1600. The 1-3 week outlook remains positive, but a sustained break above 1.1615 is required to target 1.1655.
Earlier, the pair rose sharply to 1.1585 last Friday but failed to hold gains above 1.1610, closing little changed at 1.1579. Strong support is anchored at 1.1525, with analysts noting momentum remains skewed higher if the 1.1615 level is cleared.
No immediate market reaction was specified, but the consolidation phase suggests traders are awaiting confirmation before further moves.