AUD/INR may rise 199 - 286 pips

Our pivot point stands at 56.189.

Our preference

The upside prevails as long as 56.189 is support.

Alternative scenario

Below 56.189, expect 56.042 and 55.954.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 56.287 and 56.267).

Supports and resistances

56.814 **

56.726 *

56.638 **

56.551

56.352 last

56.247

56.189 **

56.042 *

55.954 **

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