Alex Bobrov
The results of the survey conducted by the SECO indicate a consumer confidence decline in Switzerland. Despite optimistic forecasts, the index decline was mainly caused by lower confidence over the country’s economic and employment prospects.
The indicator declined from -8 down to -17 in Q2 2012. Analysts had anticipated a decline only by 4.
The participants of the survey say the economic situation will deteriorate in the near future (within the next 12 months).
Forex.
According to , the Swiss Franc is retracing against the US Dollar. The experts report that USDCHF is forming wave B(С)/С of level H4 or higher. The top of the MF sloping channel and pivot 0.9872 are the closest levels of resistance.
The current bullish move will be completed as soon as the price overcomes the bottom of the MF sloping channel and consolidates below 0.9746 (as shown below).
Alex Bobrov
