AUD/INR may fall to 53.853 - 54.697

Our pivot point is at 57.958.

Our preference

Target 53.853.

Alternative scenario

Above 57.958, look for 59.386 and 60.237.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (57.031) but above its 50 period moving average (56.356).

Supports and resistances

60.237 **

59.386 *

57.958 **

57.396

56.542 last

54.697

53.853 **

53.009 *

52.166 **

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