Swiss Franc Will Come Under More Severe Pressure

The recent Swiss GDP report disappointed market participants. The GDP declined by 0.1% in Q2 2012 against a 0.5% increase in Q1 2012. Some experts were shocked by the news.

However, the Swiss GDP gained 0.5% as compared to the same period of 2011. Nevertheless, the report still suggests an economic slowdown in Switzerland.

Forex.

According to , the Swiss Franc keeps retracing against the US Dollar. The experts report that USDCHF is forming an upswing represented by wave А/В of level H4.

A break above 0.9607 will resume the rally. The current bullish move will be completed as soon as the price consolidates below 0.9501 (as shown below).