EUR/INR may rise 260 - 388 pips

Our pivot point stands at 90.508.

Our preference

The upside prevails as long as 90.508 is support.

Alternative scenario

Below 90.508, expect 90.293 and 90.165.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 90.613 and 90.620). Finally, the EUR/INR is trading above its upper Bollinger band (standing at 90.692).

Supports and resistances

91.342 **

91.214 *

91.086 **

90.958

90.698 last

90.593

90.508 **

90.293 *

90.165 **

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