AUD/INR may fall 234 - 336 pips

Our pivot point is at 55.725.

Our preference

The downside prevails as long as 55.725 is resistance.

Alternative scenario

The upside breakout of 55.725, would call for 55.896 and 55.998.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 55.558 and 55.576).

Supports and resistances

55.998 **

55.896 *

55.725 **

55.658

55.553 last

55.319

55.217 **

55.116 *

55.014 **

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