NZD/INR may rise to 52.50 - 53.30

Our pivot point stands at 49.70.

Our preference

The upside prevails as long as 49.70 is support.

Alternative scenario

Below 49.70, expect 48.36 and 47.57.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 50.16 and 50.03).

Supports and resistances

54.90 **

54.10 *

53.30 **

52.50

50.83 last

50.23

49.70 **

48.36 *

47.57 **

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