CHF/INR may rise 2467 - 3690 pips

Our pivot point stands at 93.82.

Our preference

The upside prevails as long as 93.82 is support.

Alternative scenario

The downside breakout of 93.82 would call for 93.61 and 93.49.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 93.90 and 93.88).

Supports and resistances

94.64 **

94.52 *

94.40 **

94.27

94.03 last

93.90

93.82 **

93.61 *

93.49 **

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