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22 Feb 2013
Forex: USD/CHF back to flatness
Steadily, the USD/CHF retraced its Asian losses during the European morning, bouncing from 0.9284 low back to 0.9312 opening price, with a brief passage by 0.9328 on the ECB report regarding LTRO repayments.
The central bank informed that the next LTRO repayment would be about half of what was expected: €61.1 billion instead of €122.5 billion.
“USD/CHF continues to rise. Prices are now close to the resistance area implied by the high of the declining channel and 0.9383 (07/12/2012 high)”, wrote MIG Bank analyst Bijoy Kar, pointing to supports at 0.9266 (intraday low) and 0.9185 (20/02/2013 low).
The central bank informed that the next LTRO repayment would be about half of what was expected: €61.1 billion instead of €122.5 billion.
“USD/CHF continues to rise. Prices are now close to the resistance area implied by the high of the declining channel and 0.9383 (07/12/2012 high)”, wrote MIG Bank analyst Bijoy Kar, pointing to supports at 0.9266 (intraday low) and 0.9185 (20/02/2013 low).