SGD/INR may fall 169 - 243 pips

Our pivot point is at 64.499.

Our preference

The downside prevails as long as 64.499 is resistance.

Alternative scenario

The upside breakout of 64.499, would call for 64.623 and 64.697.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 64.425 and 64.404).

Supports and resistances

64.697 **

64.623 *

64.499 **

64.450

64.401 last

64.232

64.158 **

64.084 *

64.010 **

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