SGD/INR may rise 88 - 132 pips

62.186 is our pivot point.

Our preference

The upside prevails as long as 62.186 is support.

Alternative scenario

The downside breakout of 62.186 would call for 62.113 and 62.069.

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 price is trading above both its 20 and 50 period moving average (respectively at 62.234 and 62.229).

Supports and resistances

62.488 **

62.444 *

62.401 **

62.357

62.269 last

62.215

62.186 **

62.113 *

62.069 **

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