NZD/INR may rise 26 - 39 pips

Our pivot point is at 50.61.

Our preference

Rebound.

Alternative scenario

Below 50.61, expect 50.39 and 50.27.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (50.70) but under its 50 period moving average (50.84).

Supports and resistances

51.41 **

51.28 *

51.16 **

51.03

50.77 last

50.69

50.61 **

50.39 *

50.27 **

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