SGD/INR may rise 129 - 193 pips

Our pivot point is at 61.607.

Our preference

Rebound towards 61.889.

Alternative scenario

The downside breakout of 61.607 would call for 61.501 and 61.437.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 61.700 and 61.793).

Supports and resistances

62.015 **

61.952 *

61.889 **

61.825

61.696 last

61.648

61.607 **

61.501 *

61.437 **

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