USDCHF Movement
For the 24 hours to 23:00 GMT, USD rose 0.69% against the CHF and closed at 0.8860.
In the US, the Federal Reserve Bank of Atlanta President, Dennis Lockhart indicated that the rise in jobs this year would reduce unemployment slowly and higher inflation in recent months probably will not persist. Additionally, the budget deficit narrowed to $40.5 billion in April, compared to a deficit of $82.7 billion recorded in the same period previous year.
In the Asian session, at 3:00GMT, the pair is trading at 0.8850, 0.11% lower from the New York session close.
The pair has its first short term resistance at 0.8897, followed by the next resistance at 0.8944. The first area of support is at 0.8791 levels, with the subsequent support at 0.8732.
With no major release from Switzerland, the pair is expected to trade on trends in the greenback.
The currency pair is showing convergence with its 20 Hr moving average and is trading just above 50 Hr moving average.
