USD/CHF closed lower on Wednesday as it extends the trading range of the past three weeks. The mid-range close sets the stage for a steady opening on Thursday. Stochastics and the RSI are bearish signalling that a short-term high might be in or is near. Closes below the reaction low crossing are needed to confirm that a short-term high has been posted. If it resumes this spring's rally, weekly support crossing is the next upside target.