SGD/INR may fall 124 - 179 pips

Our pivot point is at 61.832.

Our preference

The downside prevails as long as 61.832 is resistance.

Alternative scenario

The upside breakout of 61.832, would call for 61.924 and 61.979.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 61.793 and 61.845).

Supports and resistances

61.979 **

61.924 *

61.832 **

61.795

61.750 last

61.626

61.571 **

61.516 *

61.461 **

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