USD/INR may rise to 84.25 - 84.62

Our pivot point is at 82.58.

Our preference

Our next up target stands at 84.62.

Alternative scenario

The downside breakout of 82.58 would call for 81.97 and 81.60.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 83.31 and 83.35).

Supports and resistances

85.35 **

84.98 *

84.62 **

84.25

83.49 last

82.82

82.58 **

81.97 *

81.60 **

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