NZD/INR may rise 20 - 29 pips

Our pivot point is at 50.76.

Our preference

The upside prevails as long as 50.76 is support.

Alternative scenario

Below 50.76, expect 50.61 and 50.52.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 50.84 and 50.78).

Supports and resistances

51.38 **

51.29 *

51.20 **

51.11

50.91 last

50.82

50.76 **

50.61 *

50.52 **

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