Alex Bobrov
Forex news, USDCHF. According to preliminary data of Swiss Federal Statistical Office, in February the annual rate of retail sales rose by 0.8%, which is much lower than the January point of 4.75%. Despite this, in February nominal sales dropped by 2.2%, following the rise in January by 1.5%.
February decline of retail sales has amounted to 1.3% in comparison to previous month; nominal decline has amounted to 2.6%.
Real retail sales have raised by 0.4%, without considering fuel; in this reference the increase of food products, tobacco, and beverages has amounted to 0.3%, providing partial compensation for the February decline of non-food products by 0.5%.
USDCHF remains within long-term flat zone. According to Masterforex-V Trading System Department, USDCHF currency pair has formed bearish wave А/В. At this point bullish wave А/В of minimal H2 level is being formed. Closest resistance is provided by Fibonacci points 0.9127, 0.9166, and pivot MF 0.9177. Bearish wave А/В of minimal Daily2 level will continue its formation when minimal point 0.9001 is broken. Its closest support will be provided by Fibonacci point 0.8977 and minimal point 0.8929.
Alex Bobrov
