EUR/USD Holds Near Two-Week High at 1.1640 Ahead of ECB

EUR/USD is consolidating just under 1.1640, its best level in two weeks, having reclaimed the 200-day moving average in recent sessions. That reclaim is technically significant — it flips a long-term resistance zone into potential support and keeps the minor uptrend structure intact heading into a high-impact event.

The immediate line in the sand sits at 1.1604. A daily close below that level would undermine the bullish setup and open the door to a retest of lower demand zones. Until then, dip-buyers appear to have the upper hand, with price action favoring continuation toward fresh two-week highs.

Volatility is likely to spike around the ECB announcement, so traders leaning on this technical picture should size positions with the event risk in mind rather than assuming the trend holds through the release.