USD/CHF 4H Chart: Channel Up

USD/CHF is somewhat indecisive around 200-period SMA at 1.0020 right now. This important resistance is immediately followed by the new January monthly pivot point, which creates downside risks for the US Dollar. In case the pair fails to overcome this supply, it will be forced to go below the pattern's trend-line at 0.99. Additional losses will have to be contained by the monthly S1 at 0.9775. In the meantime, the Buck can rely on support from 55/100-period SMAs at 0.9915/20. Backed by bullish technical studies and oversold status of the Greenback (73% of all positions are short), the pair is still capable of commencing a sustainable recovery, with the mid-term bullish goal being placed at 1.033 (Nov high).