SGD/INR may fall 113 - 170 pips

Our pivot point is at 63.341.

Our preference

The downside prevails as long as 63.341 is resistance.

Alternative scenario

The upside breakout of 63.341, would call for 63.436 and 63.493.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 63.335 and 63.447).

Supports and resistances

63.493 **

63.436 *

63.341 **

63.303

63.266 last

63.153

63.096 **

63.039 *

62.983 **

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