USD/INR may rise 4 - 7 pips

Our pivot point stands at 83.91.

Our preference

As long as 83.91 is support look for 84.02.

Alternative scenario

The downside breakout of 83.91 would call for 83.87 and 83.85.

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 (83.95) but above its 50 period moving average (83.93).

Supports and resistances

84.07 **

84.04 *

84.02 **

83.99

83.95 last

83.93

83.91 **

83.87 *

83.85 **

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