NZD/INR may fall 19 - 27 pips

49.89 is our pivot point.

Our preference

Under pressure below 49.89.

Alternative scenario

The upside breakout of 49.89, would call for 50.03 and 50.11.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 49.80 and 49.81).

Supports and resistances

50.11 **

50.03 *

49.89 **

49.84

49.79 last

49.60

49.52 **

49.44 *

49.36 **

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