SGD/INR may fall 130 - 195 pips

Our pivot point is at 64.303.

Our preference

The downside prevails as long as 64.303 is resistance.

Alternative scenario

The upside breakout of 64.303, would call for 64.412 and 64.477.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 64.227 and 64.250). Finally, the SGD/INR is trading below its lower Bollinger band (standing at 64.170).

Supports and resistances

64.477 **

64.412 *

64.303 **

64.260

64.142 last

64.012

63.947 **

63.883 *

63.818 **

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