EUR/INR may fall 220 - 324 pips

Our pivot point stands at 89.796.

Our preference

The downside prevails as long as 89.796 is resistance.

Alternative scenario

Above 89.796, look for 89.969 and 90.073.

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 stands below its 20 and 50 period moving average (respectively at 89.651 and 89.642). Finally, the EUR/INR has penetrated its lower Bollinger band (89.599).

Supports and resistances

90.073 **

89.969 *

89.796 **

89.728

89.592 last

89.372

89.268 **

89.165 *

89.062 **

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