NZD/INR may fall to 48.47 - 48.94

50.63 is our pivot point.

Our preference

The downside prevails as long as 50.63 is resistance.

Alternative scenario

The upside breakout of 50.63, would call for 51.41 and 51.88.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 50.75 and 51.00). Finally, the NZD/INR has penetrated its lower Bollinger band (50.03).

Supports and resistances

51.88 **

51.41 *

50.63 **

50.32

49.89 last

48.94

48.47 **

48.01 *

47.54 **

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