SGD/INR may rise 79 - 118 pips

62.764 is our pivot point.

Our preference

The upside prevails as long as 62.764 is support.

Alternative scenario

Below 62.764, expect 62.698 and 62.658.

Comment

The RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). 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 62.706 and 62.645).

Supports and resistances

63.033 **

62.994 *

62.954 **

62.915

62.836 last

62.790

62.764 **

62.698 *

62.658 **

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