SGD/INR may fall 88 - 132 pips

Our pivot point is at 62.257.

Our preference

The downside prevails as long as 62.257 is resistance.

Alternative scenario

The upside breakout of 62.257, would call for 62.332 and 62.376.

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 62.218 and 62.216).

Supports and resistances

62.376 **

62.332 *

62.257 **

62.228

62.199 last

62.111

62.067 **

62.022 *

61.978 **

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