AUD/INR may rise 190 - 278 pips

Our pivot point stands at 55.521.

Our preference

The upside prevails as long as 55.521 is support.

Alternative scenario

Below 55.521, expect 55.372 and 55.284.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 55.608 and 55.578).

Supports and resistances

56.111 **

56.022 *

55.934 **

55.846

55.656 last

55.579

55.521 **

55.372 *

55.284 **

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