AUD/INR may fall 237 - 343 pips

Our pivot point is at 55.689.

Our preference

Target 55.193.

Alternative scenario

The upside breakout of 55.689, would call for 55.867 and 55.973.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (55.603) but above its 50 period moving average (55.486).

Supports and resistances

55.973 **

55.867 *

55.689 **

55.619

55.536 last

55.299

55.193 **

55.087 *

54.981 **

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