Key Levels: Why 1.1604 Is the Line in the Sand for EUR/USD

The 1.1604 level has emerged as the pivotal short-term support for EUR/USD, aligning closely with the pair's reclaimed 200-day moving average. This confluence strengthens its technical significance, making it a level traders are likely watching closely for confirmation of trend direction.

Currently trading near a two-week high around 1.1640, the pair shows a minor uptrend structure that remains intact as long as pullbacks are contained above 1.1604. A break of this floor would mark a technical shift, while continued defense of the zone supports the case for further upside probing.

Given the proximity to the ECB decision, the setup favors range compression followed by a directional move, with 1.1604 and 1.1640 forming the immediate battle lines for bulls and bears.