AUD/INR may fall 268 - 369 pips

Our pivot point is at 55.298.

Our preference

The downside prevails as long as 55.298 is resistance.

Alternative scenario

The upside breakout of 55.298, would call for 55.468 and 55.569.

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 55.182 and 55.215).

Supports and resistances

55.569 **

55.468 *

55.298 **

55.232

55.165 last

54.897

54.796 **

54.696 *

54.595 **

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