AUD/INR may rise 192 - 281 pips

55.963 is our pivot point.

Our preference

As long as 55.963 is support look for 56.413.

Alternative scenario

The downside breakout of 55.963 would call for 55.813 and 55.724.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 56.053 and 55.866).

Supports and resistances

56.591 **

56.502 *

56.413 **

56.324

56.132 last

56.022

55.963 **

55.813 *

55.724 **

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