AUD/INR may rise 233 - 349 pips

Our pivot point stands at 55.676.

Our preference

The upside prevails as long as 55.676 is support.

Alternative scenario

Below 55.676, expect 55.480 and 55.364.

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 above its 20 and 50 period moving average (respectively at 55.759 and 55.869). Finally, the AUD/INR is trading above its upper Bollinger band (standing at 55.869).

Supports and resistances

56.458 **

56.342 *

56.225 **

56.109

55.876 last

55.752

55.676 **

55.480 *

55.364 **

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