EUR/USD Technical Setup: 200-Day MA Reclaim Signals Bullish Bias

EUR/USD's move back above its 200-day moving average marks a notable shift in short-term structure, with the pair maintaining a minor uptrend into the ECB decision. The 1.1604 level has emerged as the immediate line in the sand for bulls, having held on recent pullbacks.

A daily close above the current 1.1640 area would reinforce the technical case for continuation, particularly if the ECB's tone validates the rate-hike expectations already priced by markets. Failure to hold 1.1604, however, would flip the near-term bias back toward consolidation or a retest of lower support zones.

Volatility around the ECB announcement is likely to determine whether this moving-average reclaim develops into a sustained trend or proves to be a temporary technical bounce.