SGD/INR may rise 98 - 146 pips

Our pivot point is at 61.709.

Our preference

The upside prevails as long as 61.709 is support.

Alternative scenario

The downside breakout of 61.709 would call for 61.627 and 61.578.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 61.727 and 61.680).

Supports and resistances

62.021 **

61.972 *

61.923 **

61.875

61.777 last

61.741

61.709 **

61.627 *

61.578 **

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