EUR/INR may rise 317 - 472 pips

Our pivot point is at 91.438.

Our preference

The upside prevails as long as 91.438 is support.

Alternative scenario

The downside breakout of 91.438 would call for 91.177 and 91.022.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 91.673 and 91.663).

Supports and resistances

92.463 **

92.308 *

92.153 **

91.998

91.681 last

91.540

91.438 **

91.177 *

91.022 **

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