NZD/INR may fall 25 - 38 pips

Our pivot point stands at 50.65.

Our preference

The downside prevails as long as 50.65 is resistance.

Alternative scenario

The upside breakout of 50.65, would call for 50.86 and 50.99.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 50.53 and 50.56).

Supports and resistances

50.99 **

50.86 *

50.65 **

50.57

50.47 last

50.22

50.09 **

49.97 *

49.84 **

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