NZD/INR may rise 17 - 24 pips

Our pivot point is at 49.51.

Our preference

Rebound towards 49.84.

Alternative scenario

The downside breakout of 49.51 would call for 49.40 and 49.33.

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 49.67 and 49.78).

Supports and resistances

49.97 **

49.90 *

49.84 **

49.77

49.60 last

49.55

49.51 **

49.40 *

49.33 **

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