USD/CHF closed slightly higher on Monday before a short covering decline erased much of the early session losses. The mid-range close sets the stage for a steady opening on Tuesday. Stochastics and the RSI are diverging but are bullish again signalling that additional weakness is possible near-term. If it extends this month's rally, weekly support crossing is the next upside target. Closes below the 20-day moving average crossing are needed to confirm that a short-term high has been posted.