AUD/INR may fall 301 - 423 pips

Our pivot point is at 56.648.

Our preference

The downside prevails as long as 56.648 is resistance.

Alternative scenario

Above 56.648, look for 56.853 and 56.975.

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 56.535 and 56.544).

Supports and resistances

56.975 **

56.853 *

56.648 **

56.568

56.487 last

56.186

56.064 **

55.942 *

55.820 **

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