USD/CHF closed lower on Thursday and renewed the decline off June's high. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are neutral to bullish signalling that sideways to higher prices are possible near-term. If it renews Tuesday's rally, the 25% retracement level of the June-July decline crossing is the next upside target. If it extends the decline off June's high, the 75% retracement level of the 2009-2010 rally crossing is the next upside target.