SGD/INR may rise 112 - 156 pips

61.768 is our pivot point.

Our preference

The upside prevails as long as 61.768 is support.

Alternative scenario

Below 61.768, expect 61.695 and 61.651.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is trading under its 20 period moving average (61.827) but above its 50 period moving average (61.805).

Supports and resistances

62.068 **

62.024 *

61.981 **

61.937

61.825 last

61.796

61.768 **

61.695 *

61.651 **

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