SGD/INR may rise 135 - 203 pips

Our pivot point is at 64.127.

Our preference

Our next up target stands at 64.463.

Alternative scenario

The downside breakout of 64.127 would call for 64.013 and 63.946.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is above its 20 and 50 period moving average (respectively at 64.202 and 64.232).

Supports and resistances

64.598 **

64.530 *

64.463 **

64.395

64.260 last

64.171

64.127 **

64.013 *

63.946 **

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