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USD/CHF closed lower on Wednesday and The low-range close sets the stage for a steady to lower opening on Thursday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off last week's low, the 38% retracement level of the 2010-2011-decline crossing is the next upside target. Closes below the 10-day moving average crossing are needed to confirm that a short-term high has been posted.