NZD/INR may rise 26 - 39 pips

Our pivot point is at 50.97.

Our preference

Our next up target stands at 51.58.

Alternative scenario

The downside breakout of 50.97 would call for 50.75 and 50.62.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is above its 20 and 50 period moving average (respectively at 51.15 and 51.15).

Supports and resistances

51.84 **

51.71 *

51.58 **

51.45

51.19 last

51.05

50.97 **

50.75 *

50.62 **

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