EUR/INR may fall 246 - 349 pips

Our pivot point is at 91.256.

Our preference

The downside prevails as long as 91.256 is resistance.

Alternative scenario

The upside breakout of 91.256, would call for 91.429 and 91.533.

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 91.132 and 91.099).

Supports and resistances

91.533 **

91.429 *

91.256 **

91.187

91.092 last

90.846

90.743 **

90.639 *

90.536 **

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