SGD/INR may rise 114 - 172 pips

Our pivot point stands at 63.952.

Our preference

The upside prevails as long as 63.952 is support.

Alternative scenario

Below 63.952, expect 63.855 and 63.798.

Comment

The RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). 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 63.918 and 63.763).

Supports and resistances

64.313 **

64.256 *

64.199 **

64.141

64.027 last

63.989

63.952 **

63.855 *

63.798 **

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