CHF/INR may fall 3644 - 5420 pips

Our pivot point stands at 97.38.

Our preference

Target 96.60.

Alternative scenario

Above 97.38, look for 97.68 and 97.86.

Comment

The RSI is below its neutrality area at 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 below its 20 period moving average (97.18) but above its 50 period moving average (97.12).

Supports and resistances

97.86 **

97.68 *

97.38 **

97.26

97.14 last

96.78

96.60 **

96.42 *

96.25 **

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