SGD/INR may rise 154 - 210 pips

Our pivot point is at 61.678.

Our preference

The upside prevails as long as 61.678 is support.

Alternative scenario

The downside breakout of 61.678 would call for 61.583 and 61.527.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 61.692 and 61.689).

Supports and resistances

62.080 **

62.023 *

61.967 **

61.911

61.757 last

61.715

61.678 **

61.583 *

61.527 **

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