It took six attempts for the euro to break the $1.1300resistance level this month. One day after breaching the barrier,the common currency is fast approaching the next line in the sandamid a rally that now has analysts pondering what it will take toslow the best-performing major currency this quarter.

For chartists from JPMorgan to RBC, there are few obstaclesremaining before the euro lifts off in a sustained rally amidfading political risks and a monetary policy shift on the horizon.With the $1.13 post-U.S. election high giving way, $1.1428, a levellast reached as traders awaited the result of the U.K.'s vote toleave the European Union a year ago, remains one of the lastlines of defense for euro bears before the common currency advancesto the $1.17 area last seen in August 2015.

“The November high was really important and we did push throughit,” said Niall O'Connor, a technical analyst at JPMorgan. “If wedo break through the $1.16-17 zone, there's really not a whole lotof resistance. We'll start talking about a bigger base breakout forthe euro.”