CHF/INR may fall 3862 - 5491 pips

Our pivot point stands at 93.56.

Our preference

As long as 93.56 is resistance look for 92.77.

Alternative scenario

Above 93.56, look for 93.83 and 93.99.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI would call for further downside. Moreover, the price stands above its 20 period moving average (93.30) but below its 50 period moving average (93.36).

Supports and resistances

93.99 **

93.83 *

93.56 **

93.45

93.32 last

92.93

92.77 **

92.61 *

92.44 **

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