SGD/INR may fall 123 - 180 pips

Our pivot point stands at 63.760.

Our preference

The downside prevails as long as 63.760 is resistance.

Alternative scenario

Above 63.760, look for 63.856 and 63.913.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 63.721 and 63.752).

Supports and resistances

63.913 **

63.856 *

63.760 **

63.723

63.684 last

63.561

63.504 **

63.447 *

63.391 **

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