EUR/INR may rise to 94.686 - 95.548

Our pivot point is at 91.410.

Our preference

The upside prevails as long as 91.410 is support.

Alternative scenario

Below 91.410, expect 89.969 and 89.111.

Comment

The RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 91.572 and 90.717).

Supports and resistances

97.271 **

96.409 *

95.548 **

94.686

92.861 last

91.976

91.410 **

89.969 *

89.111 **

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