CHF/INR may rise 3544 - 5189 pips

96.90 is our pivot point.

Our preference

As long as 96.90 is support look for 97.67.

Alternative scenario

The downside breakout of 96.90 would call for 96.62 and 96.46.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (97.16) but above its 50 period moving average (97.14).

Supports and resistances

98.00 **

97.83 *

97.67 **

97.51

97.15 last

97.01

96.90 **

96.62 *

96.46 **

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