SGD/INR may rise 141 - 211 pips

Our pivot point is at 63.617.

Our preference

The upside prevails as long as 63.617 is support.

Alternative scenario

The downside breakout of 63.617 would call for 63.499 and 63.429.

Comment

The RSI is above 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 63.635 and 63.598).

Supports and resistances

64.061 **

63.991 *

63.921 **

63.851

63.710 last

63.664

63.617 **

63.499 *

63.429 **

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