EUR/INR may rise 269 - 397 pips

Our pivot point stands at 90.472.

Our preference

The upside prevails as long as 90.472 is support.

Alternative scenario

The downside breakout of 90.472 would call for 90.257 and 90.129.

Comment

The RSI is above its neutrality area at 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 90.618 and 90.574).

Supports and resistances

91.300 **

91.172 *

91.044 **

90.916

90.647 last

90.556

90.472 **

90.257 *

90.129 **

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