NZD/INR may rise 18 - 26 pips

Our pivot point stands at 49.23.

Our preference

The upside prevails as long as 49.23 is support.

Alternative scenario

The downside breakout of 49.23 would call for 49.10 and 49.02.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 49.30 and 49.23).

Supports and resistances

49.76 **

49.68 *

49.60 **

49.52

49.34 last

49.28

49.23 **

49.10 *

49.02 **

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