NZD/INR may rise 24 - 36 pips

Our pivot point stands at 51.00.

Our preference

The upside prevails as long as 51.00 is support.

Alternative scenario

Below 51.00, expect 50.81 and 50.69.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 51.12 and 51.08).

Supports and resistances

51.75 **

51.63 *

51.52 **

51.40

51.16 last

51.08

51.00 **

50.81 *

50.69 **

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