EUR/INR may rise 251 - 376 pips

93.584 is our pivot point.

Our preference

As long as 93.584 is support look for 94.126.

Alternative scenario

The downside breakout of 93.584 would call for 93.374 and 93.248.

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 pair is trading under its 20 period moving average (93.765) but above its 50 period moving average (93.615).

Supports and resistances

94.377 **

94.252 *

94.126 **

94.001

93.750 last

93.667

93.584 **

93.374 *

93.248 **

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