CHF/INR may rise 5198 - 7561 pips

Our pivot point is at 98.54.

Our preference

As long as 98.54 is support look for 99.62.

Alternative scenario

Below 98.54, expect 98.14 and 97.91.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 98.82 and 98.56).

Supports and resistances

100.09 **

99.85 *

99.62 **

99.38

98.86 last

98.70

98.54 **

98.14 *

97.91 **

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