SGD/INR may rise 86 - 129 pips

62.214 is our pivot point.

Our preference

Look for a drop towards 62.214 before a bounce.

Alternative scenario

Below 62.214, expect 62.142 and 62.099.

Comment

The RSI is above 50. The MACD is negative and below its signal line. The penetration of 50 on the RSI should trigger further losses. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 62.301 and 62.303).

Supports and resistances

62.543 **

62.500 *

62.457 **

62.414

62.328 last

62.243

62.214 **

62.142 *

62.099 **

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