Forex: USD/CHF volatile but aware of Greek debt buyback news
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USD/CHF
FXstreet.com (Barcelona) - The downside seens since the Asian session found a low at 0.9332 and, since then, a period of relatively high range volatility has been seen. The USDCHF rallied to 0.9358 ahead of the Germany IFO survey and fell back down to its lows in ten minutes after the publication. The pair quotes at 0.9350 area at the moment.
It's being reported that an official at the Greek Finance Ministry said that the Troika is considering cutting up to ¬8B worth of interest rates as one of the measures to put the Greek debt back on track, as well as extending maturities and cutting debt by ¬10B via debt buyback that could be completed by year-end.
"Studies on 4h chart are maintaining negative tone, however, approach to oversold territory may signal hesitation at 0.9300", wrote Windsor Brokers analyst Slobodan Drvenica, expecting bearish action with key near-term barriers at 0.9400 and 0.9430 and only break here would provide relief.
It's being reported that an official at the Greek Finance Ministry said that the Troika is considering cutting up to ¬8B worth of interest rates as one of the measures to put the Greek debt back on track, as well as extending maturities and cutting debt by ¬10B via debt buyback that could be completed by year-end.
"Studies on 4h chart are maintaining negative tone, however, approach to oversold territory may signal hesitation at 0.9300", wrote Windsor Brokers analyst Slobodan Drvenica, expecting bearish action with key near-term barriers at 0.9400 and 0.9430 and only break here would provide relief.
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