EUR/INR may fall 173 - 258 pips

Our pivot point is at 90.860.

Our preference

The downside prevails as long as 90.860 is resistance.

Alternative scenario

The upside breakout of 90.860, would call for 91.003 and 91.089.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 90.816 and 90.829).

Supports and resistances

91.089 **

91.003 *

90.860 **

90.804

90.682 last

90.509

90.424 **

90.339 *

90.253 **

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