USD/CHF closed slightly lower on Monday and the low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI are oversold and are turning bullish hinting that a low might be in or is near. Closes above the 20-day moving average crossing would temper the bearish outlook. If it extends this month's decline, the 38% retracement level of last year's rally crossing is the next downside target.