EUR/INR may rise 189 - 280 pips

Our pivot point is at 90.051.

Our preference

Our next up target stands at 90.482.

Alternative scenario

The downside breakout of 90.051 would call for 89.898 and 89.807.

Comment

The RSI is above its neutrality area at 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 both its 20 and 50 period moving average (respectively at 90.173 and 90.179).

Supports and resistances

90.664 **

90.573 *

90.482 **

90.391

90.202 last

90.111

90.051 **

89.898 *

89.807 **

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