EUR/INR may rise 265 - 373 pips

90.598 is our pivot point.

Our preference

The upside prevails as long as 90.598 is support.

Alternative scenario

The downside breakout of 90.598 would call for 90.417 and 90.309.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 90.683 and 90.631). Finally, the EUR/INR has crossed above its upper Bollinger band (90.777).

Supports and resistances

91.377 **

91.269 *

91.160 **

91.052

90.787 last

90.670

90.598 **

90.417 *

90.309 **

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