AUD/INR may fall 275 - 391 pips

56.413 is our pivot point.

Our preference

The downside prevails as long as 56.413 is resistance.

Alternative scenario

The upside breakout of 56.413, would call for 56.608 and 56.725.

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 56.367 and 56.374).

Supports and resistances

56.725 **

56.608 *

56.413 **

56.336

56.237 last

55.962

55.846 **

55.730 *

55.614 **

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