AUD/INR may rise 193 - 290 pips

56.340 is our pivot point.

Our preference

The upside prevails as long as 56.340 is support.

Alternative scenario

Below 56.340, expect 56.178 and 56.082.

Comment

The RSI is above 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 56.425 and 56.351).

Supports and resistances

56.955 **

56.858 *

56.762 **

56.665

56.472 last

56.404

56.340 **

56.178 *

56.082 **

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