NZD/INR may fall to 48.40 - 49.29

Our pivot point is at 52.41.

Our preference

The downside prevails as long as 52.41 is resistance.

Alternative scenario

Above 52.41, look for 53.92 and 54.81.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 52.05 and 51.74).

Supports and resistances

54.81 **

53.92 *

52.41 **

51.82

51.13 last

49.29

48.40 **

47.51 *

46.62 **

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