AUD/INR may rise 155 - 224 pips

Our pivot point stands at 54.210.

Our preference

Rebound towards 54.589.

Alternative scenario

The downside breakout of 54.210 would call for 54.094 and 54.025.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 54.466 and 54.631).

Supports and resistances

54.727 **

54.658 *

54.589 **

54.520

54.365 last

54.255

54.210 **

54.094 *

54.025 **

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