AUD/INR may fall 301 - 409 pips

Our pivot point is at 55.364.

Our preference

The downside prevails as long as 55.364 is resistance.

Alternative scenario

The upside breakout of 55.364, would call for 55.547 and 55.655.

Comment

The RSI is below 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 55.324 and 55.402).

Supports and resistances

55.655 **

55.547 *

55.364 **

55.292

55.220 last

54.919

54.811 **

54.702 *

54.593 **

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