USD/INR may rise 6 - 9 pips

83.95 is our pivot point.

Our preference

As long as 83.95 is support look for 84.13.

Alternative scenario

Below 83.95, expect 83.91 and 83.88.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 84.03 and 84.02).

Supports and resistances

84.18 **

84.16 *

84.13 **

84.10

84.04 last

83.97

83.95 **

83.91 *

83.88 **

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