AUD/INR may rise to 56.682 - 57.244

Our pivot point stands at 54.653.

Our preference

As long as 54.653 is support look for 57.244.

Alternative scenario

The downside breakout of 54.653 would call for 53.711 and 53.150.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 55.445 and 55.240).

Supports and resistances

58.369 **

57.806 *

57.244 **

56.682

55.496 last

55.023

54.653 **

53.711 *

53.150 **

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