SGD/INR may rise 129 - 186 pips

63.157 is our pivot point.

Our preference

Rebound towards 63.418.

Alternative scenario

The downside breakout of 63.157 would call for 63.062 and 63.006.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands above its 20 period moving average (63.228) but below its 50 period moving average (63.263).

Supports and resistances

63.531 **

63.475 *

63.418 **

63.361

63.232 last

63.195

63.157 **

63.062 *

63.006 **

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