SGD/INR may rise 120 - 175 pips

61.668 is our pivot point.

Our preference

The upside prevails as long as 61.668 is support.

Alternative scenario

Below 61.668, expect 61.576 and 61.521.

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 61.723 and 61.716).

Supports and resistances

62.026 **

61.971 *

61.916 **

61.861

61.741 last

61.705

61.668 **

61.576 *

61.521 **

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