SGD/INR may rise 130 - 195 pips

64.294 is our pivot point.

Our preference

The upside prevails as long as 64.294 is support.

Alternative scenario

Below 64.294, expect 64.185 and 64.120.

Comment

The RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). 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 64.334 and 64.260).

Supports and resistances

64.740 **

64.675 *

64.609 **

64.544

64.414 last

64.337

64.294 **

64.185 *

64.120 **

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