SGD/INR may rise 87 - 131 pips

61.753 is our pivot point.

Our preference

Rebound towards 61.954.

Alternative scenario

The downside breakout of 61.753 would call for 61.680 and 61.636.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 61.831 and 61.840).

Supports and resistances

62.041 **

61.997 *

61.954 **

61.910

61.823 last

61.781

61.753 **

61.680 *

61.636 **

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