SGD/INR may fall 134 - 197 pips

Our pivot point stands at 62.016.

Our preference

Target 61.728.

Alternative scenario

The upside breakout of 62.016, would call for 62.122 and 62.186.

Comment

The RSI is below 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (61.938) but above its 50 period moving average (61.891).

Supports and resistances

62.186 **

62.122 *

62.016 **

61.974

61.925 last

61.791

61.728 **

61.664 *

61.601 **

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