Usman Salis
After a choppy week, EUR/USD is displaying renewed strength. The pair has bounced back from 1.1550 and is now holding steady above 1.1620. The price structure looks encouraging for bulls, with higher lows taking shape and buyers gearing up for what could be a push toward stronger resistance levels.
EUR/USD Chart Analysis
Analyst B Trader points out that the 15-minute chart highlights several important technical areas worth keeping an eye on. There's a support zone sitting around 1.1600–1.1610, shown as a shaded area on the chart - this is where price might dip for a retest before climbing further.
On the upside, 1.1650 stands out as the main resistance target, matching earlier swing highs. Right now, price action is consolidating, which leaves two doors open: either a quick pullback to support before heading higher, or a direct run at 1.1650. The current setup shows bullish liquidity building, and if buyers keep their foot on the gas, continuation looks likely.
Fundamental Drivers Behind EUR/USD
A handful of bigger-picture forces are at play. The US dollar has been softer lately, mainly due to dovish signals from the Federal Reserve that have taken some wind out of its sails. Meanwhile, the euro got a lift from stronger-than-expected PMI and inflation numbers out of the Eurozone. On top of that, an improved tone in global markets has tilted sentiment toward the euro and away from the safe-haven dollar. All of this lines up nicely with what the technicals are showing, backing the short-term bullish view.
EUR/USD Price Forecast: Key Levels to Watch
If EUR/USD bulls manage to push through and close above 1.1635–1.1650, the door could swing open toward 1.1700. On the flip side, if support at 1.1610 doesn’t hold, EUR/USD might see another dip toward 1.1580 before buyers step back in to defend the uptrend.
Usman Salis
