NZD/INR may fall 25 - 38 pips

Our pivot point stands at 50.72.

Our preference

Technical rebound towards 50.72 before a new drop.

Alternative scenario

The upside breakout of 50.72, would call for 50.94 and 51.06.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price stands above its 20 period moving average (50.48) but below its 50 period moving average (50.56).

Supports and resistances

51.06 **

50.94 *

50.72 **

50.64

50.56 last

50.31

50.18 **

50.06 *

49.93 **

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