AUD/INR may rise 180 - 270 pips

Our pivot point stands at 55.248.

Our preference

Rebound.

Alternative scenario

The downside breakout of 55.248 would call for 55.097 and 55.007.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (55.357) but under its 50 period moving average (55.460).

Supports and resistances

55.864 **

55.773 *

55.683 **

55.593

55.413 last

55.308

55.248 **

55.097 *

55.007 **

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