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EUR/USD lifts to session highs above 1.0850 as US building permits fall
The EUR/USD has not long ago lifted to session highs above 1.0850 after the latest news on US building permits unexpectedly fall in September. Look this is not exactly massively important data, but it has provided the flimsiest of excuses to force a move lower in the dollar. The USD/JPY has reacted lower too. The move above 1.0850 in the EUR/USD was probably coming anyway judging by the price action over the past 2-3 hours. That said it would not come as a surprise if this move higher in the dollar is not sustained. The high seen so far has been set at 1.0859 and the reader is again reminded of the important technical resistance in place at 1.0872- the 200 day moving average. The EUR/USD is currently trading at 1.0856
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