AUD/INR may fall 289 - 358 pips

Our pivot point stands at 54.253.

Our preference

The downside prevails as long as 54.253 is resistance.

Alternative scenario

The upside breakout of 54.253, would call for 54.369 and 54.438.

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 54.315 and 54.482).

Supports and resistances

54.438 **

54.369 *

54.253 **

54.208

54.062 last

53.773

53.704 **

53.636 *

53.567 **

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