Forex: USD/CHF see-sawing today

on Jul 25, 2013
Listen Thursday July 25th_: Yesterday’s daily candle closed with the pair 0.29 percent up, at 0.9379.

The pair fell during today’s Asian trading, with the start of the European session seeing the price at the day’s low so far of 0.9348, but a subsequent rebound saw a sharp rise to the day’s high thus far at 0.9393.
During the past two hours though, the quote has again been descending, to be currently residing at 0.9357.
Right now the price action is below the MA89 and MA200 on the 1H, 4H and daily charts, which indicates downwards pressure.
At the intraday high at 0.9393, the price hit the upper line of the falling wedge pattern which has been forming since 10 July and which carries the potential for trend reversal.
Resistances: 0.9395, 0.9420 and 0.9445.
Supports: 0.9350, 0.9325 and 0.9300.