AUD/INR may rise 217 - 321 pips

56.362 is our pivot point.

Our preference

As long as 56.362 is support look for 56.854.

Alternative scenario

Below 56.362, expect 56.187 and 56.083.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 56.530 and 56.468).

Supports and resistances

57.063 **

56.959 *

56.854 **

56.750

56.533 last

56.431

56.362 **

56.187 *

56.083 **

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