USDCHF: Bulls are on a quick upside

Fundamental analysis:

According to CME's "Federal Reserve Watch": The probability of the Fed raising interest rates by 75 basis points by September is 67%, and the probability of raising interest rates by 100 basis points is 33%; the probability of accumulative rate hikes by 125 basis points by November is 46.4%, and the cumulative rate of increase is 46.4%. The probability of raising interest rates by 150 basis points is 43.4%, and the probability of accumulative rate hikes of 175 basis points is 10.1%.

USD/CHF USDCHF daily chart

A brief technical analysis:

From the daily chart: the short-term exchange rate rose slightly and then fell back. MACD was running near the 0-axis and the volume was slightly increased. The RSI rose slightly after it stopped falling.

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