NZD/INR may rise 23 - 34 pips

Our pivot point is at 51.55.

Our preference

The upside prevails as long as 51.55 is support.

Alternative scenario

The downside breakout of 51.55 would call for 51.36 and 51.24.

Comment

The RSI is above 50. 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 51.66 and 51.62).

Supports and resistances

52.32 **

52.20 *

52.08 **

51.97

51.74 last

51.63

51.55 **

51.36 *

51.24 **

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