AUD/INR may fall to 52.932 - 53.425

Our pivot point is at 55.528.

Our preference

The downside prevails as long as 55.528 is resistance.

Alternative scenario

The upside breakout of 55.528, would call for 56.363 and 56.860.

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 55.419 and 55.508).

Supports and resistances

56.860 **

56.363 *

55.528 **

55.200

54.499 last

53.425

52.932 **

52.439 *

51.946 **

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