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At the Forex currency Swiss Franc rate almost stands still on Wednesday as external background and positions of Swiss national Bank do not give grounds for further steps in any directions.

Forex forecast: MACD indicator for the pair USD/CHF is in the positive area, it declines, 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 0.9260, USD/CHF will go to 0.9250 and 0.9230. Conditions for correction have been created.

Representative of SNB Mr. Dantin said yesterday that lowering of Franc rate is predicted in perspective, since measures to restrict its growth are going to be introduced. He once again outlined 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 is going to be released on Friday, including leading indicator index KOF in January.

A week ago Swiss authorities said that government does not have tools 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.

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 the Bank 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.

Investors' economic expectations index ZEW was at the level of -50.1 points in January against -72 points a month before that. 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 of0.23 points and previous revised value of 0.34 points. Trade balance in Switzerland rose by 3.0 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 therate of the Franc. It became known earlier that unemployment rate in Switzerland increased to 3.3% in December against expectations of 3.2% and the level of 3.1% in November.

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