CHF/INR may rise 4837 - 7164 pips

Our pivot point stands at 98.71.

Our preference

The upside prevails as long as 98.71 is support.

Alternative scenario

The downside breakout of 98.71 would call for 98.31 and 98.08.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 99.03 and 99.02). Finally, the CHF/INR has crossed above its upper Bollinger band (99.13).

Supports and resistances

100.34 **

100.11 *

99.87 **

99.64

99.16 last

98.86

98.71 **

98.31 *

98.08 **

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