EUR/INR may fall 246 - 359 pips

Our pivot point stands at 92.160.

Our preference

The downside prevails as long as 92.160 is resistance.

Alternative scenario

Above 92.160, look for 92.351 and 92.464.

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 92.068 and 92.124).

Supports and resistances

92.464 **

92.351 *

92.160 **

92.085

91.985 last

91.739

91.626 **

91.512 *

91.399 **

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