USD/INR may rise 6 - 9 pips

83.84 is our pivot point.

Our preference

Rebound.

Alternative scenario

The downside breakout of 83.84 would call for 83.79 and 83.76.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (83.89) but below its 50 period moving average (83.91).

Supports and resistances

84.06 **

84.03 *

84.00 **

83.97

83.91 last

83.86

83.84 **

83.79 *

83.76 **

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