Forex news. Central Bank of Switzerland strengthens the reaction on lasting fixation of Swiss franc, having lowered the fluctuation range of Libor rate from 0-0.75% to 0-0.25%, and besides keeping it at a zero level.
At the same time Central Bank is going to buy out its bonds and increase its deposits to the demand of commercial banks from 30 billion francs to 80 billion francs.
These activities are held by the bank due to the fact that the rise of franc has had a negative influence on the country’s trade balance. Thus, trade surplus has lowered from 3306 billion francs to 1745 billion francs during June.
Central Bank of Switzerland claimed to be ready to trace the market situation, and, if necessary, to interfere into the situation by means of interventions.
Experts of the Department of In-Depth Trade System Study of Masterforex-V admit that the rate of Swiss frank continues to form a bearish wave С of Daily 2 level.
Thus, a short bearish wave 5/А of Н4/Н8 wave level is currently being formed; the historic minimum of 0.7606 will become its important level of support. Whereas breaking MF pivot of MF sloping channel will indicate the end of bearish wave from 0.8277 and the formation of new correctional movement to it.
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