EUR/INR may fall 218 - 324 pips

Our pivot point is at 91.381.

Our preference

The downside prevails as long as 91.381 is resistance.

Alternative scenario

Above 91.381, look for 91.559 and 91.665.

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 91.305 and 91.266).

Supports and resistances

91.665 **

91.559 *

91.381 **

91.310

91.230 last

91.012

90.906 **

90.800 *

90.694 **

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