CHF/INR may fall 3299 - 4855 pips

93.76 is our pivot point.

Our preference

Target 93.03.

Alternative scenario

The upside breakout of 93.76, would call for 94.02 and 94.18.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (93.55) but above its 50 period moving average (93.44).

Supports and resistances

94.18 **

94.02 *

93.76 **

93.66

93.52 last

93.19

93.03 **

92.88 *

92.72 **

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