AUD/INR may fall 257 - 378 pips

Our pivot point is at 56.513.

Our preference

Target 55.959.

Alternative scenario

Above 56.513, look for 56.717 and 56.839.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (56.415) but above its 50 period moving average (56.298).

Supports and resistances

56.839 **

56.717 *

56.513 **

56.433

56.337 last

56.080

55.959 **

55.837 *

55.716 **

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