NZD/INR may fall 18 - 25 pips

Our pivot point stands at 49.60.

Our preference

The downside prevails as long as 49.60 is resistance.

Alternative scenario

Above 49.60, look for 49.71 and 49.78.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 49.56 and 49.63).

Supports and resistances

49.78 **

49.71 *

49.60 **

49.55

49.51 last

49.33

49.26 **

49.19 *

49.13 **

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