NZD/INR may fall 23 - 35 pips

Our pivot point is at 52.22.

Our preference

Target 51.72.

Alternative scenario

Above 52.22, look for 52.42 and 52.54.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the pair is trading under its 20 period moving average (52.12) but above its 50 period moving average (51.99).

Supports and resistances

52.54 **

52.42 *

52.22 **

52.15

52.07 last

51.84

51.72 **

51.61 *

51.49 **

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