AUD/INR may rise to 56.712 - 57.322

Our pivot point stands at 54.429.

Our preference

Rebound.

Alternative scenario

The downside breakout of 54.429 would call for 53.409 and 52.802.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (55.113) but under its 50 period moving average (55.489).

Supports and resistances

58.542 **

57.932 *

57.322 **

56.712

55.400 last

54.830

54.429 **

53.409 *

52.802 **

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