USD/CHF closed lower due to long covering on Monday as it consolidates some of this week's rally. The low-range close sets the stage for a steady to lower opening on Tuesday. Stochastics and the RSI remain bullish signalling that sideways to higher prices are possible near-term. If it extends this week's rally, the reaction high crossing is the next upside target. Closes below the 10-day moving average crossing would temper the near-term bullish outlook.