AUD/INR may fall 215 - 312 pips

Our pivot point is at 56.386.

Our preference

As long as 56.386 is resistance look for 55.937.

Alternative scenario

Above 56.386, look for 56.548 and 56.644.

Comment

The RSI is below 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 56.263 and 56.256).

Supports and resistances

56.644 **

56.548 *

56.386 **

56.322

56.249 last

56.034

55.937 **

55.841 *

55.745 **

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