SGD/INR may fall to 62.998 - 63.449

Our pivot point is at 65.070.

Our preference

Target 62.998.

Alternative scenario

The upside breakout of 65.070, would call for 65.829 and 66.281.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (64.759) but above its 50 period moving average (64.227).

Supports and resistances

66.281 **

65.829 *

65.070 **

64.772

64.448 last

63.449

62.998 **

62.548 *

62.097 **

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