USD slightly consolidates against CHF.
A negative factor for the US currency may be a further rise in duties due to the trade war between the US and the EU. The G7 summit will be held in Canada soon and there is a possibility that the participating states will act as a united front against US trade duties. Also, new WTO legal norms could be adopted to avoid such problems in the future. In addition, there is a possibility that a number of states are not going to support American sanctions and will continue to buy Iranian oil. If countries cannot agree on a common policy, this could adversely affect the US dollar and world economic growth.
Today investors expect the publication of data from the US on trade balance for April and changes in unit labor costs.
Support and resistance
Stochastic is at the level of 22 points and indicates the possible correction.
Resistance levels: 0.9857, 0.9887.
Support levels: 0.9826, 0.9800.
Long positions can be opened if the price consolidates above the resistance level of 0.9857 with take-profit at 0.9887 mark and stop-loss at 0.9826.
US Dollar vs Swiss Franc
|Support levels||0.9800, 0.9826, 0.9857, 0.9887|
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