SGD/INR may rise 130 - 194 pips

Our pivot point is at 64.196.

Our preference

The upside prevails as long as 64.196 is support.

Alternative scenario

The downside breakout of 64.196 would call for 64.087 and 64.022.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 64.251 and 64.227).

Supports and resistances

64.614 **

64.549 *

64.484 **

64.420

64.290 last

64.238

64.196 **

64.087 *

64.022 **

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