USD/CHF closed lower on Tuesday as it extends the decline off June's high. The mid-range close sets the stage for a steady opening on Wednesday. Stochastics and the RSI are diverging but are bullish signalling that sideways to higher prices are possible near-term. If it extends the rally off June's low, the 75% retracement level of the 2009-2010-decline crossing is the next downside target. Closes below last Tuesday's low crossing would confirm that a short-term top has been posted.