SGD/INR may rise to 65.412 - 65.925

Our pivot point stands at 63.607.

Our preference

The upside prevails as long as 63.607 is support.

Alternative scenario

The downside breakout of 63.607 would call for 62.747 and 62.235.

Comment

The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (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 63.631 and 62.615).

Supports and resistances

66.950 **

66.438 *

65.925 **

65.412

64.320 last

63.944

63.607 **

62.747 *

62.235 **

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