SGD/INR may rise to 64.252 - 64.646

62.725 is our pivot point.

Our preference

The upside prevails as long as 62.725 is support.

Alternative scenario

The downside breakout of 62.725 would call for 62.066 and 61.673.

Comment

The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 62.427 and 62.007). Finally, the SGD/INR is trading above its upper Bollinger band (standing at 63.237).

Supports and resistances

65.433 **

65.039 *

64.646 **

64.252

63.291 last

62.984

62.725 **

62.066 *

61.673 **

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