NZD/INR may rise to 53.01 - 53.81

Our pivot point is at 50.19.

Our preference

The upside prevails as long as 50.19 is support.

Alternative scenario

Below 50.19, expect 48.86 and 48.06.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 50.14 and 50.60). Finally, the NZD/INR is trading above its upper Bollinger band (standing at 51.41).

Supports and resistances

55.40 **

54.60 *

53.81 **

53.01

51.42 last

50.71

50.19 **

48.86 *

48.06 **

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