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At the Forex currency Swiss Franc rate remains at the local highs on Thursday supported by external optimism and making use of the authorities' comments about SNB.

Forex forecast: MACD indicator for the pair USD/CHF is declining in the positive area, while volumes are minimal, and is giving a sell signal. Stochastic Oscillator remains in the oversold zone and maintains a similar signal.

Forex recommendations: in case of breakdown at 0.9200, USD/CHF will go to 0.9190 and 0.9170. Conditions for correction have been created.

Yesterday, Swiss government indicated intention to revise policy of supervision over SNB activity. A week ago Swiss authorities said that government does not have instruments for direct influence on SNB. Representatives of the Finance Ministry of the country stated that politicians have no ground to cast doubts on Bank's strategies; however the issue with Hildebrand requires special consideration. Ministry also stressed that new head of SNB will be appointed only after additional discussion.

This news has supported buyers of Franc, which reinforces possibility of new interventions of SNB.

Representative of SNB Mr. Dantin said earlier, that, lowering of Franc rate is possible in perspective, because measures to restrict its growth are going to be introduced. He once again out lined well-known positions of SNB about possibility of unlimited purchases of foreign currency in order to keep Franc in permissible price limits.

Interesting economic statistics of the country, including leading indicator index KOF in January, is going to be released on Friday.

We would remind that the head of Swiss National Bank Phillip Hildebrand resigned at the beginning of January. The name of successor is still unknown and it is also not clear if a new governor of theBank will adhere to the same policy as his colleague in monetary issues. Swiss government noted that search for the candidate for SNB governor will take several months. In January, investors' economic expectations index ZEW was at the level of -50.1 points against -72 points a month earlier. This is a positive signal, indicating some stability in the country. Leading indicators index KOF fell to 0.01 points in December against the forecast of 0.23 points and previous revised value of 0.34 points. Trade balance in Switzerland rose by3.0 billion francs in November against the forecast of +2.00 billion francs and previous value of +2.15 billion francs. The index is positive; however it is based on the efforts of the local regulator to curb the rate of the Franc.

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