The biggest fall is in the construction field (-36 000).
Challenger job cuts in May was released at 58.6K (the previous fact for April was 40K).
According to ISM Manufacturing PMI, ISM Manufacturing Employment for May was better and became 53.7.
As a result, we do expect that Nonfarm Payrolls may definitely be worse than the previous fact. The question is – will it be worse than the forecast (the market expects +175K).
On the other hand, not seasonally adjusted unemployment rate in Switzerland has to be better (2,3% against 2,4% in April).
Fundamentally CHF looks more appealing for the market than the US dollar . But technically the situation looks a bit different.
On daily time frame we see the consolidation around minimums.
USD is testing the and there is still the possibility to get reversal signals.
lines tried to intersect each other, but it didn’t happen.
reversed and crossed the lower line up. is close to the chart.
Summary: long positions are possible if USD breaks the local , which is situated at 1,00200. If the downtrend continues – next target will be 0,98000 (200-EMA on the weekly time frame)