USD/CHF closed higher on Tuesday as it extended this spring's rally. A short covering decline tempered early profits and the low-range close sets the stage for a steady to lower opening on Wednesday. Stochastics and the RSI are oversold but remain neutral to bullish signalling that additional strength 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 top has been posted.
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