EUR/INR may rise 254 - 367 pips

91.851 is our pivot point.

Our preference

The upside prevails as long as 91.851 is support.

Alternative scenario

Below 91.851, expect 91.661 and 91.547.

Comment

The RSI is trading above 70. This could mean that either the pair is in a lasting uptrend or just overbought and that therefore a correction could shape (look for bearish divergence in this case). The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 91.870 and 91.799). Finally, the EUR/INR is trading above its upper Bollinger band (standing at 92.040).

Supports and resistances

92.650 **

92.536 *

92.422 **

92.309

92.055 last

91.926

91.851 **

91.661 *

91.547 **

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