Switzerland's external trade figures showed positive signs in September. There was an increase in the external trade surplus caused by higher exports and lower imports. In particular, the surplus increased from F1.86bn up to F2.5bn during the reporting period.
The real export volume increased by 7.5% (m/m). The annual growth reached 5.3% during the reporting period. According to experts, the increase was mainly caused by higher demand from the USA and the Eurozone's pharmaceutical and motor industries.
Meanwhile, the Swiss Franc is still strengthening against the US Dollar. According to Masterforex-V Academy, USDCHF is forming a major downswing represented by wave 3/C of level Weekly.
A further downswing will give way to 0.8861/51, 0.8796/72. The current bearish move of USDCHF will be completed as soon as the price overcomes the top of the MF sloping channel and consolidates above 0.9174 (as shown below).
