FXstreet.com (Barcelona) - The dollar has risen against the Euro after the worst than expected US existing homes sales and the EUR/USD has fallen around 70 pips in the first minutes after data releases from the 1.2800 to the 1.2727 level, today's minimum.

Existing home sales has fallen 5.3% between December and January to the lowest level in 12 years. The median price of a home sold plunged 14.8% year over year.

Currently, the pair is trading around the 1.2730/50 band. If the downtrend is confirmed, the EUR/USD should fall to 1.2665, yesterday's minimum and 1.2555 as last Thursday's minimum.