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At the Forex currency market Swiss Franc rate continues to move away from the historic highs. Volume of purchase for the pair USD/CHF is still not large; there are no heavy buyers of the pair; however such dynamics is logical amid stable external background.

Forex forecast: MACD indicator is in the negative area for the pair USD/CHF and continues to go down, giving a pair sell signal. Stochastic Oscillator has come into overbought zone today, maintaining a pair buy signal.

Forex recommendations: off the market.

Feasible event scenario at Forex: in case of breakdown at the level of 0.9100 the pair will go to 0.9120 and 0.9150. If the level of 0.9050 is exceeded, the target of decline will be the levels of 0.9030 and 0.9010/00.

Swiss National Bank started to indicate that intervention of possible: representative of the regulator Mr. Dantin said yesterday that the Bank is able to ensure price stability even amid excess liquidity. In addition the politician noted that the cost of the intervention at the currency market will be determined by the information pressure.

Bulls took the hint very well, which has been demonstrated by the current dynamics of the pair.

Swiss National Bank adopted measures of verbal intervention against the Franc last week: representatives of the SNB said following the meeting that strong currency is a hard burden for the economy and its inflated price will trigger a slowdown of  economic growth – largely, due to the decrease of the export volumes.

Level of three-month LIBOR rate was left unchanged, at the 0.25%, as expected.

Statistics previously demonstrated that level of CPI in Switzerland increased by 0.4% m/m (+0.5% y/y) in February against the forecast of growth by 0.3% m/m. Thus, inflation in Switzerland has been increasing slightly so far, which on one hand, indicates economic recovery in the country and on the other hand does not give rise to discussions of the interest rate revision.

Note that levels of exports in Switzerland are growing even when the Franc is strong, maintaining support for the entire economy.

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