According to the survey involving managers of multiple Swiss companies, the strengthening of the Swiss Franc threatens the competitiveness of the Swiss economy.
According to the KOF report, numerous Swiss companies suffered from the strong national currency in 2011. The performance of numerous export-oriented companies suggests that the Swiss economy seems to be gradually falling into recession.
In the meantime, the Swiss Franc keeps strengthening. According to the Department of Masterforex-V Trading system, at this point USDCHF is in the process of forming sub-wave C(C ) inside a major downswing (wave A/B). A break below the 0.9088 low will continue the current wave. The closest level of support is 0.9065. Once broken, the next targets are 0.9048, 0.9023, 0.9004. The current sub-wave will be over if the MF sloping channel and pivot 0.9141 are broken (as shown below):
