SGD/INR may rise 110 - 166 pips

Our pivot point stands at 61.847.

Our preference

Rebound.

Alternative scenario

The downside breakout of 61.847 would call for 61.754 and 61.699.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (61.918) but under its 50 period moving average (61.927).

Supports and resistances

62.196 **

62.141 *

62.086 **

62.030

61.920 last

61.884

61.847 **

61.754 *

61.699 **

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