SGD/INR may rise 115 - 172 pips

63.385 is our pivot point.

Our preference

The upside prevails as long as 63.385 is support.

Alternative scenario

The downside breakout of 63.385 would call for 63.290 and 63.233.

Comment

The RSI is above its neutrality area at 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 63.426 and 63.392).

Supports and resistances

63.752 **

63.695 *

63.638 **

63.581

63.466 last

63.423

63.385 **

63.290 *

63.233 **

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