SGD/INR may rise 84 - 126 pips

Our pivot point stands at 61.669.

Our preference

The upside prevails as long as 61.669 is support.

Alternative scenario

The downside breakout of 61.669 would call for 61.598 and 61.556.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 61.682 and 61.625).

Supports and resistances

61.951 **

61.909 *

61.867 **

61.825

61.741 last

61.696

61.669 **

61.598 *

61.556 **

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