AUD/INR may fall 295 - 426 pips

Our pivot point is at 55.633.

Our preference

The downside prevails as long as 55.633 is resistance.

Alternative scenario

The upside breakout of 55.633, would call for 55.853 and 55.984.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 55.521 and 55.524).

Supports and resistances

55.984 **

55.853 *

55.633 **

55.546

55.431 last

55.136

55.005 **

54.874 *

54.743 **

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