AUD/INR may fall to 53.302 - 54.137

Our pivot point stands at 57.140.

Our preference

Target 53.302.

Alternative scenario

The upside breakout of 57.140, would call for 58.548 and 59.387.

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 pair is trading under its 20 period moving average (56.406) but above its 50 period moving average (55.876).

Supports and resistances

59.387 **

58.548 *

57.140 **

56.587

55.916 last

54.137

53.302 **

52.467 *

51.632 **

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