CHF/INR may rise 3208 - 4760 pips

Our pivot point stands at 93.05.

Our preference

The upside prevails as long as 93.05 is support.

Alternative scenario

The downside breakout of 93.05 would call for 92.79 and 92.64.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 93.03 and 92.73).

Supports and resistances

94.08 **

93.93 *

93.77 **

93.62

93.30 last

93.15

93.05 **

92.79 *

92.64 **

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