CHF/INR may fall 2492 - 3721 pips

Our pivot point stands at 94.76.

Our preference

The downside prevails as long as 94.76 is resistance.

Alternative scenario

Above 94.76, look for 94.97 and 95.09.

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 94.75 and 94.76).

Supports and resistances

95.09 **

94.97 *

94.76 **

94.68

94.56 last

94.31

94.19 **

94.07 *

93.94 **

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