USD/CHF closed lower on Wednesday as it extends the decline off last week's high. The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends the aforementioned decline, December's low crossing is the next downside target. Closes above the 10-day moving average crossing would temper the friendly outlook.