EUR/INR may rise 187 - 278 pips

Our pivot point stands at 89.898.

Our preference

Rebound.

Alternative scenario

Below 89.898, expect 89.746 and 89.655.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (90.036) but under its 50 period moving average (90.151). Finally, the EUR/INR is trading above its upper Bollinger band (standing at 90.089).

Supports and resistances

90.571 **

90.480 *

90.390 **

90.299

90.112 last

89.958

89.898 **

89.746 *

89.655 **

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