EUR/INR may fall 233 - 342 pips

Our pivot point stands at 91.177.

Our preference

As long as 91.177 is resistance look for 90.610.

Alternative scenario

The upside breakout of 91.177, would call for 91.359 and 91.468.

Comment

The RSI is below 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 90.983 and 91.012).

Supports and resistances

91.468 **

91.359 *

91.177 **

91.105

90.952 last

90.719

90.610 **

90.502 *

90.394 **

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