AUD/INR may fall 236 - 340 pips

56.529 is our pivot point.

Our preference

Technical rebound towards 56.529 before a new drop.

Alternative scenario

Above 56.529, look for 56.704 and 56.808.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above its 20 period moving average (56.340) but under its 50 period moving average (56.381).

Supports and resistances

56.808 **

56.704 *

56.529 **

56.460

56.375 last

56.139

56.035 **

55.931 *

55.827 **

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