USD/INR may rise to 84.29 - 84.69

Our pivot point is at 82.91.

Our preference

As long as 82.91 is support look for 84.69.

Alternative scenario

The downside breakout of 82.91 would call for 82.25 and 81.85.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is below its 20 period moving average (83.46) but above its 50 period moving average (83.40).

Supports and resistances

85.48 **

85.08 *

84.69 **

84.29

83.46 last

83.17

82.91 **

82.25 *

81.85 **

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