SGD/INR may rise 121 - 165 pips

Our pivot point is at 62.322.

Our preference

The upside prevails as long as 62.322 is support.

Alternative scenario

Below 62.322, expect 62.247 and 62.203.

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 above its 20 and 50 period moving average (respectively at 62.361 and 62.334).

Supports and resistances

62.635 **

62.590 *

62.546 **

62.502

62.381 last

62.351

62.322 **

62.247 *

62.203 **

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