NZD/INR may rise 19 - 29 pips

Our pivot point stands at 51.46.

Our preference

Rebound.

Alternative scenario

Below 51.46, expect 51.29 and 51.19.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (51.57) but below its 50 period moving average (51.60).

Supports and resistances

52.08 **

51.98 *

51.88 **

51.78

51.59 last

51.52

51.46 **

51.29 *

51.19 **

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