USD/CHF pair rose during trade session on Tuesday, with markets focused on the upcoming US data later in the day. The cross reached 0.9706 during European session, highest value since May 24th, after which consolidation followed at lower levels – 0.9654. USD/CHF was expected to receive support at Monday low, 0.9592, while resistance levels were expected at May 21st highest value, 0.9750.
US dollar was supported amid expectations that FED was on the path to decelerate its easing program, as decision for tapering it is expected in the future meetings of US central bank. It also became clear during FED May meeting, that some policymakers expressed readiness to begin scaling back asset purchases in June.
Additionally, earlier today was reported that the number of employed people in Switzerland increased during Q1 to 4.152 million, exceeding forecasts for 4.130 million, while during the preceding period data showed 4.116 million employed people.
Meanwhile, EUR/CHF pair advanced to 1.2512.
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