SGD/INR may rise 127 - 190 pips

61.894 is our pivot point.

Our preference

The upside prevails as long as 61.894 is support.

Alternative scenario

Below 61.894, expect 61.788 and 61.724.

Comment

The RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 61.861 and 61.726).

Supports and resistances

62.310 **

62.247 *

62.183 **

62.120

61.993 last

61.936

61.894 **

61.788 *

61.724 **

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