AUD/INR may rise 141 - 212 pips

Our pivot point is at 55.108.

Our preference

Rebound towards 55.453.

Alternative scenario

The downside breakout of 55.108 would call for 54.990 and 54.920.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 55.247 and 55.325).

Supports and resistances

55.593 **

55.523 *

55.453 **

55.382

55.241 last

55.154

55.108 **

54.990 *

54.920 **

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