AUD/INR may fall 209 - 301 pips

Our pivot point stands at 55.344.

Our preference

Target 54.905.

Alternative scenario

Above 55.344, look for 55.498 and 55.589.

Comment

The RSI is below 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (55.215) but above its 50 period moving average (55.183).

Supports and resistances

55.589 **

55.498 *

55.344 **

55.284

55.206 last

54.997

54.905 **

54.814 *

54.723 **

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