EUR/INR may fall 245 - 348 pips

Our pivot point stands at 89.611.

Our preference

The downside prevails as long as 89.611 is resistance.

Alternative scenario

The upside breakout of 89.611, would call for 89.784 and 89.887.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 89.541 and 89.552).

Supports and resistances

89.887 **

89.784 *

89.611 **

89.543

89.451 last

89.206

89.103 **

89.000 *

88.897 **

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