SGD/INR may fall 120 - 179 pips

Our pivot point stands at 61.832.

Our preference

The downside prevails as long as 61.832 is resistance.

Alternative scenario

The upside breakout of 61.832, would call for 61.933 and 61.992.

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 61.809 and 61.811).

Supports and resistances

61.992 **

61.933 *

61.832 **

61.793

61.753 last

61.633

61.574 **

61.514 *

61.454 **

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