AUD/INR may rise 243 - 352 pips

Our pivot point is at 55.132.

Our preference

The upside prevails as long as 55.132 is support.

Alternative scenario

Below 55.132, expect 54.949 and 54.840.

Comment

The RSI is above 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 55.260 and 55.232).

Supports and resistances

55.850 **

55.741 *

55.632 **

55.523

55.280 last

55.204

55.132 **

54.949 *

54.840 **

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