USD/CHF recovery from multi-year lows falters

• USD/CHF moves off 2 1/2-year low as dollar strengthens
• Upside seen limited

USD/CHF extended a recovery on Monday and climbed to a peak of 0.9376 during the New York session before losing momentum. 

The US dollar strengthened across the board, and continued to move away a 2 ½-year low scored last week against the franc, helped by better-than-expected US labor data released last week. Nonfarm payrolls showed US economy added 200K versus 180K expected.

However, the pair has pulled back over the last hours to currently trade at 0.9345, still up 0.32% on the day.

USD/CHF levels to consider

As for technical levels, next resistances are seen at 0.9376 (intraday high), 0.9393/0.9400 (Jan 30 high/psychological level). On the flip side, supports could be found at 0.9286 (Feb 5 low),  0.9246 (2 ½-year low hit Feb 2) and 0.9200 (psychological level).