SGD/INR may fall 130 - 195 pips

Our pivot point is at 64.437.

Our preference

The downside prevails as long as 64.437 is resistance.

Alternative scenario

Above 64.437, look for 64.546 and 64.611.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 64.374 and 64.398).

Supports and resistances

64.611 **

64.546 *

64.437 **

64.394

64.351 last

64.221

64.156 **

64.091 *

64.026 **

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