width=480
 
USD/CHF closed higher due to profit taking on Wednesday as it consolidates some of the decline off January's high. The high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain neutral to bearish signalling that sideways to lower prices are possible near-term. If it extends the decline off January's high, December's low crossing is the next downside target. Closes above the 20-day moving average crossing would signal that a short-term bottom has been posted.