NZD/INR may rise to 53.37 - 54.21

Our pivot point stands at 50.39.

Our preference

As long as 50.39 is support look for 54.21.

Alternative scenario

Below 50.39, expect 49.00 and 48.17.

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 below its 20 period moving average (51.74) but above its 50 period moving average (50.90).

Supports and resistances

55.87 **

55.04 *

54.21 **

53.37

51.66 last

50.94

50.39 **

49.00 *

48.17 **

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