Daily chart
The USD/CHF pair continues its uptrend after markets were motionless yesterday for the Christmas festivities in many parts of the world. At this time your nearest support is found in line 3/8 Murrey, when prices break it, it could lead to the 50.00 Fibonacci level. Moreover, also the blue line 4/8 Murrey trademark there is in this area. However, prior to this, we find the center line of the trend channel the same to be overcome in order to be in this scenario. On the other hand, it could also happen that the prices again fall below the current price to its line of 23.6 Fibonacci retracement.
4-hour chart
Elsewhere on the 4-hour chart we can see that the USD/CHF pair seems to have the strength to continue climbing. This time frame is limited by the convergence of the two trend lines, the same that could push prices downward again even just a distance of about 30 pips to 0.8931 and then again it pulls itself up with a larger share of shoppers could take advantage of this setback. Moreover, if we consider the line 3/8, which becomes the basis of its trading range, has not yet been breached, then the predominant outlook is bearish at this time.
1-hour chart
Finally the 1-hour chart also shows a bullish outlook. With the price of USD/CHF above its centerline uptrend channel and above its 200-day moving average it is expected that the Swiss franc is trying to break the barrier of 0.8972 enclosed by the line 3/8 (line green) and then enter a clear zone range and continue recovering from the constant crashes of the past six months. So our recommendation is to continue buying advantage setbacks that could well be around 0.8930.
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