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Forex: EUR/GBP dips to lows around 0.8510/15

FXstreet.com (Barcelona) - Pessimism surrounding Cyprus is taking a toll on the single currency, dragging the pair to the boundaries of the key support at 0.8500 although bouncing back to the area around 0.8520/25 at the moment.

In addition, the stubbornness of the sterling to leave the area around 1.5100 against the greenback is also adding to the selling pressure.

At the moment, the pair is down 0.74% at 0.8513 with the next support at 0.8442 (low Feb.11) ahead of 0.8391 (low Jan.24) and then 0.8364 (low Jan.22).
On the flip side, a break above 0.8595 (high Mar.18) would expose 0.8657 (MA10d) and then 0.8658 (MA21d).

Forex: GBP/USD testing the 1.5100 level during erratic trading

The GBP/USD has continued its erratic pattern Tuesday, erasing its recent gains to turn back towards its opening levels during American trading. With this most recent move, an attempt at the upside was stymied at the 1.5130 level, whereby the pair extended downwards to the 1.5100 level.
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Forex: NZD/USD edges lower to 0.8235/38 on risk aversion

The kiwi has felt the bitterness of the Cypriot turmoil firsthand, suffering from an acute bout of risk aversion Tuesday afternoon during US trading. A previous recovery attempt was stonewalled at the 0.8250 mark, culminating in an overall downtrend that left the NZD/USD reeling at 0.8235/38.
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