EUR/INR may fall 196 - 281 pips

Our pivot point is at 90.914.

Our preference

Target 90.479.

Alternative scenario

The upside breakout of 90.914, would call for 91.058 and 91.143.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (90.792) but above its 50 period moving average (90.711).

Supports and resistances

91.143 **

91.058 *

90.914 **

90.858

90.760 last

90.564

90.479 **

90.394 *

90.308 **

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