SGD/INR may fall 146 - 211 pips

Our pivot point is at 64.488.

Our preference

Target 64.191.

Alternative scenario

Above 64.488, look for 64.597 and 64.662.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (64.438) but above its 50 period moving average (64.384).

Supports and resistances

64.662 **

64.597 *

64.488 **

64.445

64.402 last

64.256

64.191 **

64.126 *

64.062 **

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