AUD/INR may rise 233 - 348 pips

Our pivot point is at 56.714.

Our preference

As long as 56.714 is support look for 57.297.

Alternative scenario

Below 56.714, expect 56.521 and 56.407.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 56.882 and 56.836).

Supports and resistances

57.527 **

57.412 *

57.297 **

57.182

56.949 last

56.790

56.714 **

56.521 *

56.407 **

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