CHF/INR may rise 2364 - 3456 pips

Our pivot point stands at 93.92.

Our preference

Rebound towards 94.44.

Alternative scenario

The downside breakout of 93.92 would call for 93.73 and 93.62.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 94.12 and 94.31).

Supports and resistances

94.66 **

94.55 *

94.44 **

94.33

94.10 last

93.99

93.92 **

93.73 *

93.62 **

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