EUR/INR may rise 226 - 338 pips

91.729 is our pivot point.

Our preference

Rebound.

Alternative scenario

The downside breakout of 91.729 would call for 91.540 and 91.427.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price stands above its 20 period moving average (91.836) but below its 50 period moving average (91.936).

Supports and resistances

92.442 **

92.329 *

92.216 **

92.104

91.878 last

91.804

91.729 **

91.540 *

91.427 **

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