FXstreet.com (Barcelona) - The euro is making another attempt to stab 1.3460 on the ECB announcement, after easing to the area around 1.3410. The central bank informed that banks have to repay €137.2 billion of 3-year LTRO on January 30th, exceeding estimates.
Jane Foley, Senior Currency Strategist at Rabobank, commented, “… if the stronger banks use their ability to repay to their advantage the risk of the weaker banks being stigmatism increases. This could potentially be a risk for the governments of these banks in the coming months”.
As of writing, the cross is up 0.61% at 1.3459 with the next resistance at 1.3487 (2012 high Feb.24) followed by the psychological level at 1.3500 and the 1.3550 (high Dec.2 2011).
On the downside, a dip belo4 1.3353 (hourly low Jan.25) would aim for 1.3341 (MA10d) and then 1.3265 (low Jan.23).
Jane Foley, Senior Currency Strategist at Rabobank, commented, “… if the stronger banks use their ability to repay to their advantage the risk of the weaker banks being stigmatism increases. This could potentially be a risk for the governments of these banks in the coming months”.
As of writing, the cross is up 0.61% at 1.3459 with the next resistance at 1.3487 (2012 high Feb.24) followed by the psychological level at 1.3500 and the 1.3550 (high Dec.2 2011).
On the downside, a dip belo4 1.3353 (hourly low Jan.25) would aim for 1.3341 (MA10d) and then 1.3265 (low Jan.23).
