SGD/INR may rise 114 - 170 pips

Our pivot point is at 63.339.

Our preference

The upside prevails as long as 63.339 is support.

Alternative scenario

Below 63.339, expect 63.244 and 63.187.

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 63.325 and 63.257).

Supports and resistances

63.698 **

63.641 *

63.584 **

63.528

63.414 last

63.377

63.339 **

63.244 *

63.187 **

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