Forex: USD/CHF nose dives on European money
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USD/CHF
FXstreet.com (Barcelona) - The USDCHF failed to continue holding at the 0.9300 handle and took a hit towards 0.9266 low. The market is currently trading circa Jan-3 closing price, at 0.9282. Behind the move is mostly EUR strength.
Investors will be expecting ECB's announcement of details in regard to early repayments of the first 3-year LTROs (¬489.2B) that are due to start in Jan-30. The central bank will be announcing new details of banks and amounts every Friday.
"The market continues to ease back near term from the 0.93835 December high and we would allow for some minor slippage to 0.9240, we view this as corrective only", wrote Commerzbank analyst Karen Jones, as she believes the market has based circa 0.9104 and targets 0.9438 200 day moving average and then .9513/25, the 50% retracement and November high.
Investors will be expecting ECB's announcement of details in regard to early repayments of the first 3-year LTROs (¬489.2B) that are due to start in Jan-30. The central bank will be announcing new details of banks and amounts every Friday.
"The market continues to ease back near term from the 0.93835 December high and we would allow for some minor slippage to 0.9240, we view this as corrective only", wrote Commerzbank analyst Karen Jones, as she believes the market has based circa 0.9104 and targets 0.9438 200 day moving average and then .9513/25, the 50% retracement and November high.
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