NZD/INR may rise 25 - 38 pips

52.50 is our pivot point.

Our preference

As long as 52.50 is support look for 53.06.

Alternative scenario

The downside breakout of 52.50 would call for 52.30 and 52.17.

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 price is above its 20 and 50 period moving average (respectively at 52.64 and 52.48).

Supports and resistances

53.30 **

53.18 *

53.06 **

52.93

52.68 last

52.59

52.50 **

52.30 *

52.17 **

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