CHF/INR may rise 2808 - 4132 pips

Our pivot point stands at 94.27.

Our preference

Rebound.

Alternative scenario

The downside breakout of 94.27 would call for 94.05 and 93.92.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (94.44) but under its 50 period moving average (94.50).

Supports and resistances

95.16 **

95.03 *

94.90 **

94.77

94.48 last

94.36

94.27 **

94.05 *

93.92 **

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