EUR/USD Chart Watch: 1.1604 Support Holds Ahead of ECB Verdict

Price action on EUR/USD continues to respect a defined uptrend channel, with the pair grinding higher toward 1.1640 into the ECB meeting. The structure shows higher lows forming since the recent basing pattern, reinforcing the bullish bias on the daily chart.

1.1604 stands out as the pivotal level for this setup - a break below would undercut the trend structure and likely trigger a retest of lower support zones. Conversely, a clean hold above this floor keeps the path open toward extending the two-week high already in place.

With the ECB decision as the near-term catalyst, technical traders are watching how price reacts around 1.1604 for confirmation of trend continuation versus a false breakout scenario.