AUD/INR may rise 190 - 282 pips

Our pivot point is at 55.356.

Our preference

Our next up target stands at 55.823.

Alternative scenario

Below 55.356, expect 55.203 and 55.111.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is above its 20 and 50 period moving average (respectively at 55.457 and 55.505). Finally, the AUD/INR is trading above its upper Bollinger band (standing at 55.539).

Supports and resistances

56.006 **

55.915 *

55.823 **

55.731

55.541 last

55.417

55.356 **

55.203 *

55.111 **

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