AUD/INR may rise 167 - 239 pips

54.834 is our pivot point.

Our preference

As long as 54.834 is support look for 55.258.

Alternative scenario

The downside breakout of 54.834 would call for 54.713 and 54.641.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 54.919 and 54.748).

Supports and resistances

55.402 **

55.330 *

55.258 **

55.186

55.019 last

54.881

54.834 **

54.713 *

54.641 **

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