AUD/INR may rise 241 - 333 pips

55.568 is our pivot point.

Our preference

The upside prevails as long as 55.568 is support.

Alternative scenario

The downside breakout of 55.568 would call for 55.414 and 55.322.

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 55.681 and 55.663).

Supports and resistances

56.242 **

56.150 *

56.058 **

55.966

55.725 last

55.629

55.568 **

55.414 *

55.322 **

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