USD/INR may rise to 84.31 - 84.53

Our pivot point is at 83.41.

Our preference

As long as 83.41 is support look for 84.53.

Alternative scenario

Below 83.41, expect 83.05 and 82.83.

Comment

The RSI is above its neutrality area at 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (83.80) but above its 50 period moving average (83.58).

Supports and resistances

84.97 **

84.75 *

84.53 **

84.31

83.80 last

83.56

83.41 **

83.05 *

82.83 **

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