AUD/INR may rise 232 - 337 pips

54.895 is our pivot point.

Our preference

Rebound.

Alternative scenario

The downside breakout of 54.895 would call for 54.718 and 54.613.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (55.000) but under its 50 period moving average (55.132).

Supports and resistances

55.614 **

55.509 *

55.404 **

55.299

55.067 last

54.964

54.895 **

54.718 *

54.613 **

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