AUD/INR may fall 222 - 293 pips

Our pivot point stands at 54.714.

Our preference

Target 54.297.

Alternative scenario

The upside breakout of 54.714, would call for 54.834 and 54.906.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (54.649) but above its 50 period moving average (54.505).

Supports and resistances

54.906 **

54.834 *

54.714 **

54.667

54.590 last

54.368

54.297 **

54.226 *

54.154 **

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