USD/INR may rise 6 - 9 pips

Our pivot point stands at 83.96.

Our preference

The upside prevails as long as 83.96 is support.

Alternative scenario

Below 83.96, expect 83.92 and 83.89.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 84.01 and 84.00). Finally, the USD/INR has crossed above its upper Bollinger band (84.05).

Supports and resistances

84.20 **

84.17 *

84.15 **

84.12

84.06 last

83.98

83.96 **

83.92 *

83.89 **

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