Switzerland’s balance-of-trade surplus declined down to 1.563B francs in January 2012 due to lower exports. Consequently, multiple analytic forecasts failed as the experts had anticipated an increase up to 2.5B francs.
According to FH, Federation of the Swiss Watch Industry, the January export of watches increased up to 1.3B francs in January mainly on higher import in Hong Kong , China and the USA.
In the meantime, according to the Department of Masterforex-V Trading System , USDCHF has finished forming the bearish wave A(C )/C H16. A break above the local high 0.9143 will trigger an upswing –wave B(C ). A break below 0.9081 will continue the downtrend. The closest level of support is the MF pivot 0.9065.
