SGD/INR may rise 116 - 171 pips

61.718 is our pivot point.

Our preference

The upside prevails as long as 61.718 is support.

Alternative scenario

Below 61.718, expect 61.626 and 61.571.

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 61.774 and 61.768).

Supports and resistances

62.073 **

62.017 *

61.962 **

61.907

61.791 last

61.755

61.718 **

61.626 *

61.571 **

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