Market Leader informed
According to a poll of the Confederation's citizens on taxes and the state's fiscal policies increasingly more Swiss people believe that the state should cut spending and stop taking out further loans rather than increase taxes in the context of a budget deficit. It should primarily save on public officials' and officers' salaries and the armed forces.
In the meantime, the Swiss frank is forming a с(С) Wave within a senior timeframe а(С) upward wave in Forex.
Based on the scenario of a further strengthening of the Swiss curreny, a В wave is forming against the previous bearish move.
If the MF sloping channel is broken with the MF Pivot remaining intact this will increase the wave level to a с(С) wave. When broken, the MF Pivot will commence a В wave to the entire wave starting at 0.9547.
Resistance and support levels
0.9948 - 200% + 300% + Oanda's sell limits0.9879 - 161.8% + 76.4%
0.9810 - 123.6% + 61.8%
0.9750 - current price
0.9708 - 123.6% + 38.2%
0.9684 - 161.8% + 50% + Oanda's buy limits
0.9660 - 200% + 50% + Oanda's buy limits
0.9636 - 238.2% + 61.8%
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