SGD/INR may fall 127 - 190 pips

62.014 is our pivot point.

Our preference

The downside prevails as long as 62.014 is resistance.

Alternative scenario

The upside breakout of 62.014, would call for 62.120 and 62.184.

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 61.994 and 61.998).

Supports and resistances

62.184 **

62.120 *

62.014 **

61.972

61.903 last

61.776

61.713 **

61.649 *

61.586 **

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