AUD/INR may fall 290 - 412 pips

Our pivot point stands at 56.783.

Our preference

The downside prevails as long as 56.783 is resistance.

Alternative scenario

Above 56.783, look for 56.989 and 57.111.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 56.633 and 56.676).

Supports and resistances

57.111 **

56.989 *

56.783 **

56.703

56.598 last

56.308

56.186 **

56.064 *

55.942 **

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