EUR/INR may fall 239 - 327 pips

90.807 is our pivot point.

Our preference

The downside prevails as long as 90.807 is resistance.

Alternative scenario

Above 90.807, look for 90.956 and 91.045.

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 90.776 and 90.819). Finally, the EUR/INR has penetrated its lower Bollinger band (90.677).

Supports and resistances

91.045 **

90.956 *

90.807 **

90.748

90.669 last

90.430

90.342 **

90.253 *

90.164 **

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