The strengthening of the Swiss currency and the global economic instability seem to have affected Switzerland’s corporate sector, this increasing bankruptcy inside it by 21% (y/y). This year there have been 336 precedents.
According to the KOF, the situation started deteriorating in mid 2011. Judging by the data provided for export-oriented companies, we can conclude that the Swiss economy is probably seeing a recession. In the meantime, the SNB is determined to keep curbing the Swiss Franc exchange rate.
USDCHF continues its long-term downtrend. According to the Department of Masterforex-V Trading System , the forming of wave А(С)/С inside the long-term downswing (wave A/B). The closest levels of support are 0.8902, 0.8858, 0.8788. The downswing will be suspended once the price breaks above the MF sloping channel and pivot 0.9129 (as shown below):
