NZD/INR may fall 20 - 30 pips

Our pivot point is at 51.75.

Our preference

Under pressure below 51.75.

Alternative scenario

Above 51.75, look for 51.91 and 52.01.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and positive. The MACD must penetrate its zero line to expect further downside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 51.70 and 51.63). Finally, the NZD/INR is trading below its lower Bollinger band (standing at 51.60).

Supports and resistances

52.01 **

51.91 *

51.75 **

51.68

51.60 last

51.40

51.30 **

51.20 *

51.11 **

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