NZD/INR may fall 18 - 26 pips

Our pivot point is at 51.04.

Our preference

The downside prevails as long as 51.04 is resistance.

Alternative scenario

Above 51.04, look for 51.17 and 51.26.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 50.94 and 51.02).

Supports and resistances

51.26 **

51.17 *

51.04 **

50.99

50.93 last

50.75

50.67 **

50.58 *

50.50 **

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