The Swiss economy showed some growth in Q1 2012. The Swiss GDP boosted by 0.7% in Jan- March 2012. This is the highest growth since Q3 2010. Analysts had anticipated a less substantial increase.
However, some experts say it will be very difficult for the Swiss authorities to support the high pace of economic growth amid the eurozone instability.
Forex.
According to experts, the Swiss Franc is recovering against the major downtrend. USDCHF has finished forming wave А(С)/С inside a bigger-scale upswing - wave 3 or С of wave level Daily2 or higher. The current rally will be completed once the price breaks below the bottom of the MF sloping channel and pivot 0.9528 (as shown below). If the price manages to break and consolidate above 0.9771, its will resume the rally through elongating the current bullish wave by means of wave А(С)/С. If this is the case, 0.9782, 0.9887 will become the closest major levels of resistance.
