NZD/INR may rise 16 - 24 pips

Our pivot point is at 50.30.

Our preference

Rebound towards 50.65.

Alternative scenario

The downside breakout of 50.30 would call for 50.16 and 50.08.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 50.45 and 50.59).

Supports and resistances

50.82 **

50.74 *

50.65 **

50.57

50.41 last

50.35

50.30 **

50.16 *

50.08 **

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