EUR/INR may fall 263 - 376 pips

Our pivot point is at 91.886.

Our preference

The downside prevails as long as 91.886 is resistance.

Alternative scenario

The upside breakout of 91.886, would call for 92.076 and 92.190.

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 is trading under both its 20 and 50 period moving average (respectively at 91.786 and 91.748).

Supports and resistances

92.190 **

92.076 *

91.886 **

91.811

91.723 last

91.460

91.347 **

91.234 *

91.120 **

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