SGD/INR may fall 127 - 190 pips

62.099 is our pivot point.

Our preference

Target 61.825.

Alternative scenario

The upside breakout of 62.099, would call for 62.206 and 62.269.

Comment

The RSI is below 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 (62.029) but above its 50 period moving average (61.996).

Supports and resistances

62.269 **

62.206 *

62.099 **

62.057

62.015 last

61.888

61.825 **

61.761 *

61.698 **

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