NZD/INR may rise 21 - 31 pips

Our pivot point stands at 51.21.

Our preference

As long as 51.21 is support look for 51.65.

Alternative scenario

Below 51.21, expect 51.05 and 50.95.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 51.34 and 51.29).

Supports and resistances

51.84 **

51.75 *

51.65 **

51.55

51.34 last

51.28

51.21 **

51.05 *

50.95 **

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