SGD/INR may fall 92 - 139 pips

Our pivot point stands at 61.501.

Our preference

As long as 61.501 is resistance look for 61.301.

Alternative scenario

The upside breakout of 61.501, would call for 61.579 and 61.625.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 61.440 and 61.454).

Supports and resistances

61.625 **

61.579 *

61.501 **

61.471

61.440 last

61.348

61.301 **

61.255 *

61.209 **

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