CHF/INR may fall 3116 - 4650 pips

Our pivot point is at 92.87.

Our preference

The downside prevails as long as 92.87 is resistance.

Alternative scenario

Above 92.87, look for 93.13 and 93.28.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 92.73 and 92.72). Finally, the CHF/INR is trading below its lower Bollinger band (standing at 92.64).

Supports and resistances

93.28 **

93.13 *

92.87 **

92.77

92.63 last

92.32

92.17 **

92.01 *

91.86 **

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