EUR/USD Price Forecast: Testing range top at 1.1485 amid stronger momentum
The EUR/USD is currently probing resistance at 1.1485, driven by strong bullish momentum and recent eurozone data supporting the single currency. This level is critical; a breakout could signal further upside potential toward the median consensus target of 1.1700 by March 2026. However, traders should remain cautious, as any rejection at this point may reinforce prevailing bearish sentiment on the dollar.
Where it sits in our coverage
Our current consensus EUR/USD target is 1.1700 (median across 13 firms), with projections ranging from 1.1100 to 1.2600 among various desks. Notably, the upper bound is held by MUFG at 1.2600 for June 2026 while Citi presents a more cautious view with a target of 1.1300 for the same period.
How firms align
Goldman is particularly bullish on the euro, aligning with the headline's view with a March target of 1.1800 and June target of 1.2100, showing a strong belief in euro strength. Conversely, Citi's position is more conservative with a March target of 1.1300, suggesting differing views among institutions regarding upcoming market movements.
What the data shows
Recent revisions from HSBC and Goldman point to increasing bullish sentiment, with both now reflecting a March target of 1.1700 or higher, indicating a shift in the market's outlook. For more detailed insights, see /research/eurusd-ecb-rate-path-2026-07-15.
How firms align with this view
Aligned with the headline view
Contrary positioning
Key takeaways
- 01EUR/USD testing key resistance at 1.1485; breakout could lead to 1.1700.
- 02Strong momentum may shift sentiment toward euro, watch for technical confirmation.
- 03A dip below 1.1400 could invalidate bullish outlook; be cautious.
- 04Monitor upcoming eurozone economic indicators for additional cues.
Market implications
Traders should closely watch the 1.1485 level for signs of either a breakout or rejection. The consensus target of 1.1700 suggests bullish momentum may persist if resistance holds. The upcoming ECB meeting could also provide additional context for positioning.
Risks to this view
A reversal in sentiment could occur if economic data surprises negatively for the euro or if the Fed signals a more hawkish stance than anticipated. Specifically, any indication of a stronger dollar or deterioration in eurozone economic performance could invalidate the current bullish outlook.
Sentiment by currency
USD EUR+JPY~GBP~Composite USD score: -0.35
Sources & References
How we cover this story
Other coverage on this pair
Euro: Bullish bias builds above key support against US Dollar – UOB
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EUR/USD Price Forecast: Approaches 1.1600 as RSI shifts bullish
Technical momentum shift toward 1.1600 suggests near-term EUR strength, but chart-only catalysts lack macro conviction.
Euro: Energy risks cap upside against US Dollar – ING
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