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USD/CHF closed lower on Thursday as it consolidates some of the rally off December's low. The low-range close sets the stage for a steady to lower opening on Friday. Stochastics and the RSI are oversold and are turning neutral to bearish hinting that a top might be in or is near. Closes below the 20-day moving average crossing would temper the bullish outlook. If it extends this month's rally, the 38% retracement level of last year's decline crossing is the next upside target.