USD/INR may fall 14 - 20 pips

Our pivot point stands at 83.48.

Our preference

The downside prevails as long as 83.48 is resistance.

Alternative scenario

Above 83.48, look for 83.58 and 83.64.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 83.42 and 83.43). Finally, the USD/INR has penetrated its lower Bollinger band (83.37).

Supports and resistances

83.64 **

83.58 *

83.48 **

83.44

83.36 last

83.22

83.16 **

83.10 *

83.04 **

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