The Swiss economy kept on increasing the external trade surplus in April, according to the recent report. The increase was backed by higher exports. All in all, April's surplus hit the level of F2.43bn, according to the Swiss Customs Administration. Indeed, this was a major increase if to compare April's figures to those seen in March - F1.99bn. At the same time, the actual figures outpaced the forecast - F2.05bn.
The surplus growth is currently taking place within the scope of higher exports (+0,6%). This is a pretty decent gain if to compare it to a 1,1% decline a month before. This is the first time in 3 month the export is actually growing. At the same time, the positive figures were backed by lower imports (a 0,5% decrease).
Meanwhile, the Swiss Franc is showing signs of completing the long-term bullish tendency, which means USDCHF is rallying within the scope of wave 3/C of level H12 or higher, Masterforex-V Academy reports.
At this point, the currency pair is developing a sub-wave – a(C )/C. The further growth will probably be curbed by the following levels of resistance: 0.8987/88, 0.9016/18. The current move will be completed if the price breaks below the bottom of the MF sloping channel and pivot 0.8936.
