NZD/INR may fall 16 - 24 pips

50.44 is our pivot point.

Our preference

Under pressure below 50.44.

Alternative scenario

Above 50.44, look for 50.57 and 50.65.

Comment

The RSI is below 50. The MACD is below its signal line and positive. 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 50.36 and 50.39).

Supports and resistances

50.65 **

50.57 *

50.44 **

50.38

50.33 last

50.17

50.09 **

50.01 *

49.93 **

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