SGD/INR may rise 164 - 238 pips

64.338 is our pivot point.

Our preference

The upside prevails as long as 64.338 is support.

Alternative scenario

The downside breakout of 64.338 would call for 64.214 and 64.140.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the pair is trading under its 20 period moving average (64.442) but above its 50 period moving average (64.402).

Supports and resistances

64.822 **

64.748 *

64.674 **

64.600

64.436 last

64.387

64.338 **

64.214 *

64.140 **

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