AUD/INR may rise 238 - 326 pips

Our pivot point stands at 55.516.

Our preference

As long as 55.516 is support look for 55.970.

Alternative scenario

The downside breakout of 55.516 would call for 55.367 and 55.279.

Comment

The RSI is above 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 (55.647) but above its 50 period moving average (55.558).

Supports and resistances

56.147 **

56.059 *

55.970 **

55.882

55.644 last

55.574

55.516 **

55.367 *

55.279 **

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