AUD/INR may rise 262 - 371 pips

Our pivot point is at 55.279.

Our preference

The upside prevails as long as 55.279 is support.

Alternative scenario

Below 55.279, expect 55.095 and 54.986.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 55.347 and 55.359).

Supports and resistances

56.034 **

55.925 *

55.815 **

55.706

55.444 last

55.351

55.279 **

55.095 *

54.986 **

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