EUR/INR may fall 224 - 313 pips

Our pivot point is at 91.142.

Our preference

The downside prevails as long as 91.142 is resistance.

Alternative scenario

Above 91.142, look for 91.292 and 91.381.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 91.081 and 91.074). Finally, the EUR/INR is trading below its lower Bollinger band (standing at 90.997).

Supports and resistances

91.381 **

91.292 *

91.142 **

91.083

90.992 last

90.768

90.679 **

90.590 *

90.500 **

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