Forex: USD/CHF rallies after Noyer and ahead of fiscal cliff talks
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USD/CHF
FXstreet.com (Barcelona) - The French ECB official Christian Noyer said the OMT programme is very important for price stability and that bond purchases could eventually be used for Greece one day. The USDCHF quickly rallied to 0.9489 high and still remains at those highs ahead of the Obama's meeting about the "fiscal cliff".
At 15:15 GMT, the US President will meet with the four top leaders of congress (John Boehner, Mitch McConnell, Nancy Pelosi and Harry Reid) to discuss the issue. With today's trading, the USDCHF was able to fully retrace this week's losses back to 0.9484.
"We also still expect to see dips back to remain quite shallow. They should find support at initially at 0.9380 ahead of 0.9360 (support line)", wrote Commerzbank analyst Karen Jones, pointing to upside targets at 9.9594 and 0.9620.
At 15:15 GMT, the US President will meet with the four top leaders of congress (John Boehner, Mitch McConnell, Nancy Pelosi and Harry Reid) to discuss the issue. With today's trading, the USDCHF was able to fully retrace this week's losses back to 0.9484.
"We also still expect to see dips back to remain quite shallow. They should find support at initially at 0.9380 ahead of 0.9360 (support line)", wrote Commerzbank analyst Karen Jones, pointing to upside targets at 9.9594 and 0.9620.
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