AUD/INR may rise 263 - 378 pips

Our pivot point stands at 56.847.

Our preference

As long as 56.847 is support look for 57.401.

Alternative scenario

The downside breakout of 56.847 would call for 56.653 and 56.538.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 57.018 and 56.952).

Supports and resistances

57.631 **

57.516 *

57.401 **

57.286

57.023 last

56.923

56.847 **

56.653 *

56.538 **

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