The USDCHF is about to test a confluence of supports.

The USDCHF broke lower out of the triangle last week and we have been cracking through support levels ever since. However, we are coming into the 50% retracement of the March spike lows to March highs and the 127% Fibonacci extension of the April lows to May highs at the .9540 level. If this support is broken, the next stop could be the .9457 level. Keep in mind, the SNB frowns on a stronger CHF.