SGD/INR may rise 98 - 146 pips

61.711 is our pivot point.

Our preference

The upside prevails as long as 61.711 is support.

Alternative scenario

Below 61.711, expect 61.629 and 61.580.

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 trading above both its 20 and 50 period moving average (respectively at 61.766 and 61.766).

Supports and resistances

62.019 **

61.970 *

61.921 **

61.873

61.775 last

61.743

61.711 **

61.629 *

61.580 **

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