AUD/INR may fall 160 - 229 pips

Our pivot point is at 54.888.

Our preference

The downside prevails as long as 54.888 is resistance.

Alternative scenario

Above 54.888, look for 55.005 and 55.075.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 54.875 and 54.888).

Supports and resistances

55.075 **

55.005 *

54.888 **

54.842

54.785 last

54.625

54.556 **

54.486 *

54.416 **

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