SGD/INR may fall 95 - 137 pips

Our pivot point is at 61.923.

Our preference

The downside prevails as long as 61.923 is resistance.

Alternative scenario

The upside breakout of 61.923, would call for 61.994 and 62.036.

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 is trading under both its 20 and 50 period moving average (respectively at 61.885 and 61.872).

Supports and resistances

62.036 **

61.994 *

61.923 **

61.895

61.858 last

61.763

61.721 **

61.678 *

61.636 **

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