AUD/INR may rise 160 - 230 pips

Our pivot point stands at 54.748.

Our preference

The upside prevails as long as 54.748 is support.

Alternative scenario

Below 54.748, expect 54.631 and 54.561.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 54.852 and 54.799). Finally, the AUD/INR has crossed above its upper Bollinger band (54.940).

Supports and resistances

55.323 **

55.253 *

55.184 **

55.114

54.954 last

54.794

54.748 **

54.631 *

54.561 **

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