AUD/INR may fall 248 - 354 pips

Our pivot point stands at 55.636.

Our preference

Under pressure below 55.636.

Alternative scenario

The upside breakout of 55.636, would call for 55.814 and 55.919.

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 price stands below its 20 and 50 period moving average (respectively at 55.561 and 55.477).

Supports and resistances

55.919 **

55.814 *

55.636 **

55.566

55.466 last

55.218

55.112 **

55.006 *

54.900 **

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