SGD/INR may rise to 65.073 - 65.544

Our pivot point is at 63.329.

Our preference

The upside prevails as long as 63.329 is support.

Alternative scenario

Below 63.329, expect 62.541 and 62.071.

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 trading above both its 20 and 50 period moving average (respectively at 63.140 and 62.366).

Supports and resistances

66.485 **

66.014 *

65.544 **

65.073

64.055 last

63.639

63.329 **

62.541 *

62.071 **

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