EUR/USD tumbles below 1.1100 on more US results

The selling pressure around the European currency is now gathering further traction, sending EUR/USD back below the 1.1100 handle.

EUR/USD weaker on upbeat data

The pair shed further ground after US Industrial Production, Manufacturing Production and Capacity Utilization have bettered expectations today, adding to earlier positive results and noting the good performance of the US economy in recent weeks.

Spot is navigating 2-day lows in the 1.1070 area in the meantime, looking to close the week on the positive territory and at the same time revert last week’s losses.

EUR/USD levels to watch

The pair is now losing 0.43% at 1.1073 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 next hurdle lines up at 1.1166 (high Jul.14) followed by 1.1184 (high Jul.5) and finally 1.1207 (base of the 6-month rising channel).