NZD/INR may fall to 47.99 - 49.09

53.06 is our pivot point.

Our preference

Target 47.99.

Alternative scenario

Above 53.06, look for 54.92 and 56.03.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and below its signal line. The MACD must penetrate its zero line to expect further downside. Moreover, the price is below its 20 period moving average (52.14) but above its 50 period moving average (51.27).

Supports and resistances

56.03 **

54.92 *

53.06 **

52.33

51.44 last

49.09

47.99 **

46.89 *

45.79 **

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