EUR/USD drops further post-US data, near 1.1010

The selling pressure is now picking up extra pace around the shared currency, relegating EUR/USD to the area of daily lows near 1.1010.

EUR/USD on its way to 1.10?

Spot deflated further after US Housing Starts and Building Permits have surpassed expectations during June, rising to 1.189M units and 1.153M units, respectively. Today’s results added to the recent upbeat data from Retail Sales, all lending extra support to ongoing the USD-rally.

Previously in Euroland, the ZEW Survey showed Economic Sentiment in both Germany and the euro bloc plummeted to -6.8 and -14.7 respectively, adding to EUR selling.

EUR/USD levels to watch

The pair is now losing 0.56% at 1.1016 and a breakdown of 1.0999 (low Jul.8) would open the door to 1.0913 (post-Brexit low Jun.24) and then 1.0820 (low Mar.10). On the flip side, the initial up barrier aligns at 1.1084 (200-day sma) followed by 1.1166 (high Jul.14) and then 1.1184 (high Jul.5).