SGD/INR may fall 86 - 129 pips

Our pivot point is at 62.363.

Our preference

The downside prevails as long as 62.363 is resistance.

Alternative scenario

The upside breakout of 62.363, would call for 62.435 and 62.478.

Comment

The RSI is below its neutrality area at 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 62.370 and 62.349). Finally, the SGD/INR has penetrated its lower Bollinger band (62.298).

Supports and resistances

62.478 **

62.435 *

62.363 **

62.334

62.291 last

62.205

62.162 **

62.119 *

62.076 **

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