AUD/INR may rise 256 - 378 pips

Our pivot point stands at 56.317.

Our preference

The upside prevails as long as 56.317 is support.

Alternative scenario

The downside breakout of 56.317 would call for 56.112 and 55.990.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 56.467 and 56.438).

Supports and resistances

57.110 **

56.988 *

56.866 **

56.744

56.488 last

56.398

56.317 **

56.112 *

55.990 **

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