AUD/INR may rise 248 - 365 pips

Our pivot point stands at 56.266.

Our preference

The upside prevails as long as 56.266 is support.

Alternative scenario

The downside breakout of 56.266 would call for 56.070 and 55.953.

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 trading above both its 20 and 50 period moving average (respectively at 56.371 and 56.303).

Supports and resistances

57.039 **

56.922 *

56.806 **

56.689

56.441 last

56.342

56.266 **

56.070 *

55.953 **

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