USD/INR may fall to 82.12 - 82.54

84.03 is our pivot point.

Our preference

Target 82.12.

Alternative scenario

The upside breakout of 84.03, would call for 84.72 and 85.14.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (83.44) but above its 50 period moving average (83.39).

Supports and resistances

85.14 **

84.72 *

84.03 **

83.76

83.41 last

82.54

82.12 **

81.71 *

81.30 **

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