EUR/INR may fall 244 - 346 pips

Our pivot point stands at 90.478.

Our preference

The downside prevails as long as 90.478 is resistance.

Alternative scenario

The upside breakout of 90.478, would call for 90.650 and 90.753.

Comment

The RSI is below 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 90.382 and 90.399).

Supports and resistances

90.753 **

90.650 *

90.478 **

90.410

90.342 last

90.098

89.996 **

89.893 *

89.790 **

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