USDCHF: Pullback demand still exists

Fundamental analysis:

According to CME's "Federal Reserve Watch": the probability of the Fed raising interest rates by 50 basis points to the range of 3.50%-3.75% in November is 41.2%, the probability of raising interest rates by 75 basis points is 58.8%, and the probability of raising interest rates by 100 basis points is 0%; The probability of a cumulative 100 basis point rate hike by December is 44.2%, the probability of a cumulative rate hike of 125 basis points is 54.9%, and the probability of a cumulative rate hike of 150 basis points is 0%

USD/CHF USDCHF daily chart

A brief technical analysis:

From the daily chart: the short-term exchange rate continues to dive from a high level, the MACD is running on the 0 axis and the volume can continue to shrink slightly, the RSI has weakened significantly, and it is expected that the short-term exchange rate will likely fall further.

Long and short turning point: 0.9600

Suppression bit: 0.9800 1.0000

Support level: 0.9400 0.9200

Trading strategy: bullish above 0.9600, target 0.9800, 1.0000

Alternative strategy: bearish below 0.9600, target 0.9400, 0.9200