AUD/INR may fall to 53.273 - 53.754

Our pivot point is at 55.581.

Our preference

The downside prevails as long as 55.581 is resistance.

Alternative scenario

The upside breakout of 55.581, would call for 56.393 and 56.876.

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 55.835 and 55.569).

Supports and resistances

56.876 **

56.393 *

55.581 **

55.263

54.891 last

53.754

53.273 **

52.791 *

52.310 **

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