CHF/INR may rise 3255 - 4882 pips

Our pivot point is at 92.92.

Our preference

The upside prevails as long as 92.92 is support.

Alternative scenario

The downside breakout of 92.92 would call for 92.65 and 92.48.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 93.09 and 93.10). Finally, the CHF/INR is trading above its upper Bollinger band (standing at 93.15).

Supports and resistances

93.98 **

93.82 *

93.65 **

93.49

93.17 last

93.03

92.92 **

92.65 *

92.48 **

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