AUD/INR may rise 214 - 311 pips

Our pivot point stands at 56.424.

Our preference

The upside prevails as long as 56.424 is support.

Alternative scenario

The downside breakout of 56.424 would call for 56.261 and 56.164.

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 56.500 and 56.489).

Supports and resistances

57.083 **

56.986 *

56.889 **

56.792

56.578 last

56.488

56.424 **

56.261 *

56.164 **

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