The EUR/USD pair extends its upward momentum, trading firmly above 1.1500 during Thursday’s Asian session. The Euro (EUR) continues to strengthen against the US Dollar (USD), buoyed by improved risk sentiment, a rebound in global equities, and expectations that the European Central Bank (ECB) will maintain a steady and cautious stance on monetary policy.

The positive tone in markets follows a brief relief rally in tech stocks, which helped ease recent selling pressure. This has allowed investors to shift focus back to upcoming Eurozone macroeconomic data, particularly German Industrial Production and Retail Sales figures due later in the day. Any sign of resilience in these reports could further support the Euro’s advance.

The ECB recently left its deposit rate unchanged at 2.0% for a third consecutive meeting. President Christine Lagarde emphasized that inflation remains contained, growth is steady, and policy stability is essential. Her comment that the ECB is “in a good place” reinforced the view that the central bank will maintain its current rate path while monitoring economic data closely.

Meanwhile, across the Atlantic, the US Dollar remains under mild pressure despite strong economic figures. The ISM Services PMI for October rose to 52.4 from 50.0, marking an eight-month high, while ADP Employment Change data revealed 42,000 private jobs added, reversing last month’s decline. However, these upbeat reports failed to spark lasting USD demand as traders weighed the impact of a potential government shutdown and reduced expectations for a Federal Reserve rate cut in December.

Technically, the EUR/USD pair holds a bullish bias as long as it trades above the 1.1480–1.1500 support area. A sustained break above 1.1530 could open the door for further gains toward 1.1570 and 1.1600, while a drop below 1.1470 might trigger short-term consolidation.

Overall, the pair’s outlook remains positive, supported by a softening US Dollar and cautious optimism in the Eurozone. Traders now await the day’s European data releases for fresh directional cues.