EUR/INR may fall 209 - 302 pips

Our pivot point stands at 90.017.

Our preference

Target 89.585.

Alternative scenario

Above 90.017, look for 90.174 and 90.267.

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 (89.906) but above its 50 period moving average (89.832).

Supports and resistances

90.267 **

90.174 *

90.017 **

89.956

89.887 last

89.678

89.585 **

89.492 *

89.399 **

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