AUD/INR may rise 236 - 354 pips

Our pivot point stands at 55.996.

Our preference

As long as 55.996 is support look for 56.526.

Alternative scenario

Below 55.996, expect 55.798 and 55.680.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 56.137 and 56.088).

Supports and resistances

56.763 **

56.644 *

56.526 **

56.408

56.172 last

56.074

55.996 **

55.798 *

55.680 **

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