USD/CHF closed higher on Wednesday as it extends this summer's rally. Profit taking tempered early gains and the high-range close sets the stage for a steady to higher opening on Thursday. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. If it extends this summer's decline, the 2009 low crossing is the next downside target. Closes above the 20-day moving average crossing would confirm that a short-term low has been posted.
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