EUR/INR may rise 270 - 395 pips

Our pivot point stands at 93.083.

Our preference

As long as 93.083 is support look for 93.663.

Alternative scenario

The downside breakout of 93.083 would call for 92.873 and 92.748.

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 price is trading above both its 20 and 50 period moving average (respectively at 93.234 and 93.089).

Supports and resistances

93.912 **

93.788 *

93.663 **

93.538

93.268 last

93.165

93.083 **

92.873 *

92.748 **

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