CHF/INR may fall 3989 - 5770 pips

97.69 is our pivot point.

Our preference

Under pressure below 97.69.

Alternative scenario

Above 97.69, look for 97.99 and 98.17.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 97.47 and 97.45).

Supports and resistances

98.17 **

97.99 *

97.69 **

97.57

97.43 last

97.03

96.86 **

96.68 *

96.50 **

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