According to the recent report on retail sales in Switzerland published by the Swiss Federal Statistical Office. The report says that Swiss retail sales saw an increase in January 2016 for the first time over the past 6 months. The figures show that the grow was a minor one but it was sufficient to indicate positive dynamics over the reporting period, Market Leader says.
The actual retail turnover is reported to have grown over the reporting period. In particular, the report indicates a 0.2% increase in January 2016 relative the same reporting period in 2015. It is also reported that the mentioned increase partially made up for the decline seen a month before.
FOREX
In the meantime, Masterforex-V Academy reports that the Swiss Franc is still retracing against the U.S. Dollar, which means USDCHF is going up. This means that there is a chance of forming wave b(C ) of a minor time frame, which may be followed by a strong move in the opposite direction within the scope of wave c(C ), the experts assume.
If that’s the case, the price may find support at the local low of 0,9660 as well as the bottom of the ascending MF sloping channel. Alternatively, the price may eventually rally all the way up to the current major level of resistance to test them. These are MF pivot 1,0250 and the top of the descending MF sloping channel.
