EUR/INR may rise 231 - 332 pips

Our pivot point stands at 89.077.

Our preference

Rebound towards 89.552.

Alternative scenario

The downside breakout of 89.077 would call for 88.908 and 88.808.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 89.255 and 89.295).

Supports and resistances

89.753 **

89.652 *

89.552 **

89.451

89.220 last

89.143

89.077 **

88.908 *

88.808 **

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