AUD/INR may rise 203 - 275 pips

Our pivot point stands at 54.822.

Our preference

The upside prevails as long as 54.822 is support.

Alternative scenario

The downside breakout of 54.822 would call for 54.701 and 54.629.

Comment

The RSI is above 50. 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 54.905 and 54.927).

Supports and resistances

55.375 **

55.303 *

55.232 **

55.160

54.957 last

54.869

54.822 **

54.701 *

54.629 **

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