NZD/INR may rise 26 - 39 pips

Our pivot point is at 50.71.

Our preference

Rebound towards 51.28.

Alternative scenario

The downside breakout of 50.71 would call for 50.49 and 50.37.

Comment

The RSI is below 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 50.91 and 50.94).

Supports and resistances

51.53 **

51.41 *

51.28 **

51.15

50.89 last

50.79

50.71 **

50.49 *

50.37 **

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