AUD/INR may fall 169 - 238 pips

Our pivot point stands at 54.719.

Our preference

The downside prevails as long as 54.719 is resistance.

Alternative scenario

Above 54.719, look for 54.835 and 54.904.

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 54.695 and 54.633).

Supports and resistances

54.904 **

54.835 *

54.719 **

54.673

54.599 last

54.430

54.361 **

54.292 *

54.222 **

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