AUD/INR may rise to 56.918 - 57.546

54.673 is our pivot point.

Our preference

The upside prevails as long as 54.673 is support.

Alternative scenario

The downside breakout of 54.673 would call for 53.621 and 52.995.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 55.425 and 55.067).

Supports and resistances

58.802 **

58.174 *

57.546 **

56.918

55.640 last

55.086

54.673 **

53.621 *

52.995 **

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