USD/CHF closed lower on Friday and below the reaction low crossing confirming that a short-term high has been posted. The low-range close sets the stage for a steady to lower opening on Monday. Stochastics and the RSI remain bearish signalling that sideways to lower prices are possible near-term. If it extends last week's decline, the reaction low crossing is the next downside target. Closes above the 20-day moving average crossing would signal that a short-term bottom has been posted.