EUR/INR may fall 276 - 365 pips

Our pivot point is at 90.980.

Our preference

The downside prevails as long as 90.980 is resistance.

Alternative scenario

Above 90.980, look for 91.130 and 91.219.

Comment

The RSI is below 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 90.880 and 90.874).

Supports and resistances

91.219 **

91.130 *

90.980 **

90.921

90.843 last

90.567

90.478 **

90.389 *

90.300 **

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