NZD/INR may rise 29 - 42 pips

Our pivot point stands at 50.69.

Our preference

As long as 50.69 is support look for 51.27.

Alternative scenario

The downside breakout of 50.69 would call for 50.47 and 50.35.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 50.84 and 50.80).

Supports and resistances

51.52 **

51.40 *

51.27 **

51.14

50.85 last

50.77

50.69 **

50.47 *

50.35 **

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