AUD/INR may fall 194 - 281 pips

Our pivot point stands at 55.876.

Our preference

The downside prevails as long as 55.876 is resistance.

Alternative scenario

The upside breakout of 55.876, would call for 56.022 and 56.108.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 55.861 and 55.928).

Supports and resistances

56.108 **

56.022 *

55.876 **

55.818

55.733 last

55.539

55.452 **

55.366 *

55.279 **

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