CHF/INR may fall 4722 - 7083 pips

Our pivot point stands at 99.14.

Our preference

The downside prevails as long as 99.14 is resistance.

Alternative scenario

The upside breakout of 99.14, would call for 99.54 and 99.77.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 98.97 and 98.86).

Supports and resistances

99.77 **

99.54 *

99.14 **

98.98

98.83 last

98.35

98.12 **

97.88 *

97.65 **

Number of asterisks represents the strength of support and resistance levels.