The rising in Wall Street cut out the strong momentum that the US dollar had against the major currencies, including the CHF. The pair failed in breaking-up the resistance at 0.957 and slide down to 0.93, which was a resisting area that became a supporting zone. The pair was traded around this support on the beginning of the month and the buyers took the pair up to 0.957, so this might be the same this time. However, a break-down of the support at 0.93 might trigger many automatic “sell” orders that will pull the price down to 0.91.
