SGD/INR may rise 84 - 126 pips

Our pivot point is at 61.785.

Our preference

The upside prevails as long as 61.785 is support.

Alternative scenario

The downside breakout of 61.785 would call for 61.715 and 61.672.

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 61.819 and 61.793).

Supports and resistances

62.052 **

62.010 *

61.967 **

61.925

61.841 last

61.813

61.785 **

61.715 *

61.672 **

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