NZD/INR may rise 13 - 20 pips

Our pivot point stands at 49.79.

Our preference

Rebound towards 50.11.

Alternative scenario

The downside breakout of 49.79 would call for 49.68 and 49.61.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 49.94 and 50.01).

Supports and resistances

50.24 **

50.17 *

50.11 **

50.04

49.91 last

49.84

49.79 **

49.68 *

49.61 **

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