EUR/INR may fall 228 - 343 pips

Our pivot point stands at 92.577.

Our preference

The downside prevails as long as 92.577 is resistance.

Alternative scenario

The upside breakout of 92.577, would call for 92.769 and 92.883.

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 92.433 and 92.459).

Supports and resistances

92.883 **

92.769 *

92.577 **

92.501

92.396 last

92.168

92.053 **

91.939 *

91.825 **

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