NZD/INR may fall 16 - 24 pips

Our pivot point stands at 49.82.

Our preference

The downside prevails as long as 49.82 is resistance.

Alternative scenario

The upside breakout of 49.82, would call for 49.95 and 50.03.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 49.86 and 49.86).

Supports and resistances

50.03 **

49.95 *

49.82 **

49.77

49.72 last

49.56

49.48 **

49.40 *

49.32 **

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