CHF/INR may fall 3437 - 5156 pips

Our pivot point stands at 97.85.

Our preference

As long as 97.85 is resistance look for 97.06.

Alternative scenario

The upside breakout of 97.85, would call for 98.14 and 98.31.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 97.58 and 97.66).

Supports and resistances

98.31 **

98.14 *

97.85 **

97.74

97.58 last

97.24

97.06 **

96.89 *

96.72 **

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