NZD/INR may rise 20 - 29 pips

51.39 is our pivot point.

Our preference

As long as 51.39 is support look for 51.81.

Alternative scenario

Below 51.39, expect 51.22 and 51.12.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (51.52) but above its 50 period moving average (51.36).

Supports and resistances

52.01 **

51.91 *

51.81 **

51.72

51.52 last

51.45

51.39 **

51.22 *

51.12 **

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