EUR/INR may fall 191 - 280 pips

Our pivot point is at 90.862.

Our preference

The downside prevails as long as 90.862 is resistance.

Alternative scenario

The upside breakout of 90.862, would call for 91.012 and 91.100.

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 90.754 and 90.770).

Supports and resistances

91.100 **

91.012 *

90.862 **

90.804

90.712 last

90.521

90.432 **

90.343 *

90.254 **

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