CHF/INR may rise 3888 - 5665 pips

Our pivot point stands at 96.74.

Our preference

Rebound towards 97.55.

Alternative scenario

The downside breakout of 96.74 would call for 96.44 and 96.26.

Comment

The RSI is trading below 30. This could mean that either the pair is in a lasting downtrend or just oversold and that therefore a rebound could shape (look for bullish divergence in this case). The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 97.06 and 97.24). Finally, the CHF/INR is trading below its lower Bollinger band (standing at 96.99).

Supports and resistances

97.90 **

97.73 *

97.55 **

97.37

96.98 last

96.86

96.74 **

96.44 *

96.26 **

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