NZD/INR may rise to 51.30 - 51.85

48.94 is our pivot point.

Our preference

Rebound towards 51.85.

Alternative scenario

Below 48.94, expect 48.02 and 47.48.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 50.08 and 50.73).

Supports and resistances

52.95 **

52.40 *

51.85 **

51.30

49.75 last

49.30

48.94 **

48.02 *

47.48 **

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