USD/CHF jumps to 1-1/2 week tops, reclaims 0.94 handle

After an initial dip to 0.9340 level, the USD/CHF pair regained traction and is currently placed at 1-1/2 week tops, around the 0.9400 handle.

The US Dollar extended its post-NFP recovery move and has been one of the key reasons behind the pair's steady recovery move for the fourth consecutive session. 

Meanwhile, a sudden spike in volatility across global equity markets, which tends to underpin the Swiss Franc's safe-haven demand, did little to hinder the pair's recovery move of around 150-pips from 18-month lows set last Friday. 

With the USD price dynamics turning out to be an exclusive driver of the pair's momentum, traders now look forward to comments by the New York Fed President William Dudley for some impetus amid absent market moving economic releases. 

Technical levels to watch

A follow-through bullish momentum is likely to confront immediate resistance near the 0.9430 region, above which a fresh bout of short-covering could lift the pair back towards reclaiming the key 0.95 psychological mark.

On the flip side, 0.9370 level now becomes an immediate support to defend, which if broken could accelerate the fall back towards 0.9320 support en-route the 0.9300 handle.