CHF/INR may rise 4410 - 6321 pips

Our pivot point stands at 97.69.

Our preference

Rebound towards 98.66.

Alternative scenario

The downside breakout of 97.69 would call for 97.37 and 97.18.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 98.05 and 98.21).

Supports and resistances

99.05 **

98.86 *

98.66 **

98.47

98.03 last

97.82

97.69 **

97.37 *

97.18 **

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