NZD/INR may fall 27 - 40 pips

Our pivot point is at 50.86.

Our preference

The downside prevails as long as 50.86 is resistance.

Alternative scenario

Above 50.86, look for 51.07 and 51.20.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 50.76 and 50.81).

Supports and resistances

51.20 **

51.07 *

50.86 **

50.78

50.69 last

50.42

50.29 **

50.16 *

50.04 **

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