AUD/INR may fall to 53.194 - 53.824

Our pivot point stands at 56.184.

Our preference

Target 53.194.

Alternative scenario

The upside breakout of 56.184, would call for 57.248 and 57.881.

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 price is below its 20 period moving average (55.296) but above its 50 period moving average (54.903).

Supports and resistances

57.881 **

57.248 *

56.184 **

55.766

55.144 last

53.824

53.194 **

52.563 *

51.933 **

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