NZD/INR may rise 23 - 33 pips

50.86 is our pivot point.

Our preference

Rise to 51.32.

Alternative scenario

The downside breakout of 50.86 would call for 50.70 and 50.60.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI should trigger further gains. Moreover, the price is below its 20 period moving average (51.00) but above its 50 period moving average (50.96).

Supports and resistances

51.51 **

51.41 *

51.32 **

51.22

50.99 last

50.93

50.86 **

50.70 *

50.60 **

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