AUD/INR may fall 169 - 238 pips

Our pivot point is at 54.938.

Our preference

Under pressure below 54.938.

Alternative scenario

Above 54.938, look for 55.055 and 55.124.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 54.848 and 54.821).

Supports and resistances

55.124 **

55.055 *

54.938 **

54.892

54.816 last

54.647

54.578 **

54.508 *

54.439 **

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