USD/CHF closed slightly lower on Wednesday and the high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI are turning neutral to bearish hinting that a short-term high might be in or is near. Closes below the 20-day moving average crossing are needed to confirm that a short-term high has been posted. If it extends the rally off November's low, the 50% retracement level of the 2008-2009-decline crossing is the next upside target.
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