NZD/INR may rise 26 - 39 pips

Our pivot point is at 50.81.

Our preference

Rebound.

Alternative scenario

The downside breakout of 50.81 would call for 50.60 and 50.47.

Comment

The RSI is above 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 stands above its 20 period moving average (51.01) but below its 50 period moving average (51.09).

Supports and resistances

51.67 **

51.55 *

51.42 **

51.29

51.03 last

50.90

50.81 **

50.60 *

50.47 **

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