NZD/INR may fall 26 - 39 pips

Our pivot point stands at 51.12.

Our preference

The downside prevails as long as 51.12 is resistance.

Alternative scenario

The upside breakout of 51.12, would call for 51.34 and 51.47.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 51.04 and 51.03).

Supports and resistances

51.47 **

51.34 *

51.12 **

51.04

50.95 last

50.69

50.56 **

50.43 *

50.31 **

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