AUD/INR may fall 235 - 340 pips

56.960 is our pivot point.

Our preference

Target 56.462.

Alternative scenario

Above 56.960, look for 57.136 and 57.241.

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 (56.861) but above its 50 period moving average (56.727).

Supports and resistances

57.241 **

57.136 *

56.960 **

56.891

56.802 last

56.567

56.462 **

56.357 *

56.252 **

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