SGD/INR may fall 109 - 158 pips

Our pivot point stands at 61.739.

Our preference

The downside prevails as long as 61.739 is resistance.

Alternative scenario

Above 61.739, look for 61.821 and 61.870.

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 61.740 and 61.758). Finally, the SGD/INR is trading below its lower Bollinger band (standing at 61.678).

Supports and resistances

61.870 **

61.821 *

61.739 **

61.707

61.665 last

61.556

61.507 **

61.458 *

61.410 **

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