$USDCHF

$USDCHF  closed lower due to profit taking on Monday as it consolidates below the 38% retracement level of this year's decline crossing at .10488. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. 

Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If September extends the rally off July's low, the 50% retracement level of this year's decline crossing at .10627 is the next upside target. Closes below the 20-day moving average crossing at .10305 would confirm that a short-term top has been posted. 

First resistance is last Thursday's high crossing at .10488. 

Second resistance is the 50% retracement level of this year's decline crossing at .10627. 

First support is the 10-day moving average crossing at .10348. 

Second support is the 20-day moving average crossing at .10305.