SGD/INR may fall 136 - 205 pips

Our pivot point stands at 64.488.

Our preference

Target 64.153.

Alternative scenario

Above 64.488, look for 64.603 and 64.671.

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 (64.410) but above its 50 period moving average (64.311).

Supports and resistances

64.671 **

64.603 *

64.488 **

64.443

64.358 last

64.222

64.153 **

64.085 *

64.017 **

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