EUR/INR may fall 213 - 320 pips

Our pivot point stands at 91.597.

Our preference

The downside prevails as long as 91.597 is resistance.

Alternative scenario

The upside breakout of 91.597, would call for 91.776 and 91.883.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 91.501 and 91.546).

Supports and resistances

91.883 **

91.776 *

91.597 **

91.527

91.435 last

91.222

91.115 **

91.009 *

90.903 **

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