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19 Mar 2013
Forex: EUR/USD falls back to daily lows on US session
FXstreet.com (Barcelona) - The EUR/USD is being kept below the opening price of 1.2957, exception made to the spike to 1.2970 by the end of the Asian session. At the moment of writing, the pair is now easing from such resistance and facing the daily lows at 1.2917. The market remains sensitive to headlines coming from Cyprus.
US Building Permits rose from 0.904M to 0.946M in February, beating consensus of 0.925M. January data was revised lower, from 0.925M. US Housing Starts also improved more than expected, from 0.910M (revised from 0.89M) to 0.917M. Market consensus was at 0.915M.
“We think today the price may correct this wave back to the level of 1.2900 and then continue falling down towards the level of 1.2880”, wrote Roboforex.com analyst Igor Sayadov, expecting a new ascending impulse later, which may continue up to the target at 1.3190.
US Building Permits rose from 0.904M to 0.946M in February, beating consensus of 0.925M. January data was revised lower, from 0.925M. US Housing Starts also improved more than expected, from 0.910M (revised from 0.89M) to 0.917M. Market consensus was at 0.915M.
“We think today the price may correct this wave back to the level of 1.2900 and then continue falling down towards the level of 1.2880”, wrote Roboforex.com analyst Igor Sayadov, expecting a new ascending impulse later, which may continue up to the target at 1.3190.