CHF/INR may fall 3663 - 5304 pips

Our pivot point stands at 97.24.

Our preference

The downside prevails as long as 97.24 is resistance.

Alternative scenario

Above 97.24, look for 97.51 and 97.68.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 97.08 and 97.07). Finally, the CHF/INR has penetrated its lower Bollinger band (97.01).

Supports and resistances

97.68 **

97.51 *

97.24 **

97.13

97.00 last

96.64

96.47 **

96.31 *

96.14 **

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