SGD/INR may fall 157 - 222 pips

Our pivot point stands at 64.446.

Our preference

The downside prevails as long as 64.446 is resistance.

Alternative scenario

The upside breakout of 64.446, would call for 64.555 and 64.620.

Comment

The RSI is below 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 64.374 and 64.379).

Supports and resistances

64.620 **

64.555 *

64.446 **

64.403

64.348 last

64.191

64.126 **

64.061 *

63.996 **

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