SGD/INR may fall 136 - 204 pips

Our pivot point stands at 64.345.

Our preference

Target 64.033.

Alternative scenario

The upside breakout of 64.345, would call for 64.459 and 64.527.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (64.252) but above its 50 period moving average (64.230).

Supports and resistances

64.527 **

64.459 *

64.345 **

64.300

64.237 last

64.101

64.033 **

63.965 *

63.897 **

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