SGD/INR may fall 125 - 181 pips

Our pivot point is at 61.725.

Our preference

The downside prevails as long as 61.725 is resistance.

Alternative scenario

The upside breakout of 61.725, would call for 61.820 and 61.876.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 61.673 and 61.676).

Supports and resistances

61.876 **

61.820 *

61.725 **

61.688

61.651 last

61.526

61.470 **

61.413 *

61.357 **

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