NZD/INR may fall to 48.84 - 49.41

Our pivot point stands at 51.52.

Our preference

The downside prevails as long as 51.52 is resistance.

Alternative scenario

The upside breakout of 51.52, would call for 52.49 and 53.06.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 50.95 and 50.99).

Supports and resistances

53.06 **

52.49 *

51.52 **

51.14

50.64 last

49.41

48.84 **

48.27 *

47.69 **

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