SGD/INR may rise to 62.508 - 62.898

Our pivot point stands at 61.109.

Our preference

As long as 61.109 is support look for 62.898.

Alternative scenario

The downside breakout of 61.109 would call for 60.455 and 60.066.

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 pair is trading under its 20 period moving average (61.693) but above its 50 period moving average (61.623).

Supports and resistances

63.677 **

63.288 *

62.898 **

62.508

61.663 last

61.365

61.109 **

60.455 *

60.066 **

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