EUR/INR may rise 197 - 290 pips

89.668 is our pivot point.

Our preference

The upside prevails as long as 89.668 is support.

Alternative scenario

The downside breakout of 89.668 would call for 89.512 and 89.419.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 89.762 and 89.761). Finally, the EUR/INR has crossed above its upper Bollinger band (89.817).

Supports and resistances

90.315 **

90.222 *

90.129 **

90.036

89.839 last

89.730

89.668 **

89.512 *

89.419 **

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