SGD/INR may rise 114 - 157 pips

Our pivot point is at 62.146.

Our preference

The upside prevails as long as 62.146 is support.

Alternative scenario

The downside breakout of 62.146 would call for 62.074 and 62.031.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is below its 20 period moving average (62.203) but above its 50 period moving average (62.188).

Supports and resistances

62.446 **

62.403 *

62.360 **

62.317

62.203 last

62.175

62.146 **

62.074 *

62.031 **

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