USD/CHF closed lower on Wednesday as it extends this winter's decline. The mid-range close sets the stage for a steady to lower 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 aforementioned decline, downside targets will now be hard to project now that it has declined into uncharted territory. Closes above the 20-day moving average crossing would confirm that a short-term bottom has been posted.