AUD/INR may rise 146 - 219 pips

Our pivot point stands at 55.194.

Our preference

As long as 55.194 is support look for 55.559.

Alternative scenario

The downside breakout of 55.194 would call for 55.073 and 55.000.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (55.344) but above its 50 period moving average (55.240).

Supports and resistances

55.703 **

55.631 *

55.559 **

55.486

55.340 last

55.242

55.194 **

55.073 *

55.000 **

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