AUD/INR may rise 220 - 329 pips

54.891 is our pivot point.

Our preference

Rebound towards 55.415.

Alternative scenario

The downside breakout of 54.891 would call for 54.709 and 54.600.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 55.087 and 55.174).

Supports and resistances

55.632 **

55.524 *

55.415 **

55.306

55.086 last

54.963

54.891 **

54.709 *

54.600 **

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