AUD/INR may rise 233 - 337 pips

Our pivot point stands at 56.448.

Our preference

The upside prevails as long as 56.448 is support.

Alternative scenario

The downside breakout of 56.448 would call for 56.272 and 56.168.

Comment

The RSI is above its neutrality area at 50. 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 56.566 and 56.559).

Supports and resistances

57.165 **

57.061 *

56.956 **

56.852

56.619 last

56.517

56.448 **

56.272 *

56.168 **

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