EUR/INR may fall 230 - 332 pips

Our pivot point is at 90.436.

Our preference

Target 89.968.

Alternative scenario

Above 90.436, look for 90.608 and 90.711.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (90.311) but above its 50 period moving average (90.294).

Supports and resistances

90.711 **

90.608 *

90.436 **

90.368

90.300 last

90.070

89.968 **

89.865 *

89.762 **

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