AUD/INR may rise 192 - 280 pips

Our pivot point is at 55.850.

Our preference

Rebound towards 56.264.

Alternative scenario

The downside breakout of 55.850 would call for 55.704 and 55.617.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 56.040 and 56.145).

Supports and resistances

56.438 **

56.351 *

56.264 **

56.176

55.984 last

55.908

55.850 **

55.704 *

55.617 **

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