SGD/INR may fall 142 - 210 pips

Our pivot point is at 64.043.

Our preference

The downside prevails as long as 64.043 is resistance.

Alternative scenario

The upside breakout of 64.043, would call for 64.156 and 64.223.

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 63.992 and 64.028).

Supports and resistances

64.223 **

64.156 *

64.043 **

63.998

63.928 last

63.786

63.718 **

63.651 *

63.584 **

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