NZD/INR may rise to 53.95 - 54.80

Our pivot point stands at 50.85.

Our preference

The upside prevails as long as 50.85 is support.

Alternative scenario

The downside breakout of 50.85 would call for 49.42 and 48.58.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 50.79 and 50.66).

Supports and resistances

56.50 **

55.65 *

54.80 **

53.95

52.20 last

51.40

50.85 **

49.42 *

48.58 **

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