SGD/INR may fall 111 - 160 pips

61.699 is our pivot point.

Our preference

The downside prevails as long as 61.699 is resistance.

Alternative scenario

The upside breakout of 61.699, would call for 61.781 and 61.830.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 61.703 and 61.730).

Supports and resistances

61.830 **

61.781 *

61.699 **

61.667

61.631 last

61.520

61.471 **

61.423 *

61.374 **

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