AUD/INR may rise 218 - 322 pips

Our pivot point stands at 56.228.

Our preference

As long as 56.228 is support look for 56.713.

Alternative scenario

The downside breakout of 56.228 would call for 56.054 and 55.949.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 56.356 and 56.321).

Supports and resistances

56.921 **

56.817 *

56.713 **

56.609

56.391 last

56.297

56.228 **

56.054 *

55.949 **

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