EUR/INR may fall 328 - 453 pips

Our pivot point is at 93.746.

Our preference

Target 93.038.

Alternative scenario

The upside breakout of 93.746, would call for 93.956 and 94.081.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (93.546) but above its 50 period moving average (93.460).

Supports and resistances

94.081 **

93.956 *

93.746 **

93.663

93.491 last

93.163

93.038 **

92.913 *

92.788 **

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