EUR/INR may fall 295 - 427 pips

93.846 is our pivot point.

Our preference

The downside prevails as long as 93.846 is resistance.

Alternative scenario

The upside breakout of 93.846, would call for 94.068 and 94.200.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 93.727 and 93.732).

Supports and resistances

94.200 **

94.068 *

93.846 **

93.759

93.624 last

93.329

93.197 **

93.065 *

92.933 **

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