USD/INR may rise 10 - 12 pips

Our pivot point is at 83.85.

Our preference

Rebound towards 84.02.

Alternative scenario

Below 83.85, expect 83.81 and 83.78.

Comment

The RSI is below 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 83.93 and 83.93).

Supports and resistances

84.08 **

84.05 *

84.02 **

84.00

83.90 last

83.87

83.85 **

83.81 *

83.78 **

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