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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.

Forex: USD/CAD falls off session highs to 1.0255/58

The USD/CAD has rocketed higher in recent minutes, on the heels of upbeat housing data in the United States. Following a European session, which held the USD/CAD in a narrow consolidation, the pair has now broken through resistance, trading off session highs near 1.0255/58 in these moments, up +0.37% Tuesday.
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Forex: GBP/USD erases gains, down to 1.5080

Expectations ahead of the US housing data sent the GBP/USD to as high as 1.5145, but then the market couldn’t hold above the opening price of 1.5108 and eased below the psychological level at 1.5100 during the US session. The 1.5075/80 zone is holding against a possible extension of daily losses.
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