AUD/INR may rise 193 - 281 pips

Our pivot point is at 55.291.

Our preference

The upside prevails as long as 55.291 is support.

Alternative scenario

The downside breakout of 55.291 would call for 55.143 and 55.055.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 55.363 and 55.340).

Supports and resistances

55.884 **

55.796 *

55.708 **

55.620

55.427 last

55.349

55.291 **

55.143 *

55.055 **

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