USD/INR may rise 12 - 17 pips

Our pivot point is at 83.42.

Our preference

As long as 83.42 is support look for 83.71.

Alternative scenario

The downside breakout of 83.42 would call for 83.33 and 83.28.

Comment

The RSI is above 50. The MACD is below its signal line and positive. The pair could retrace. Moreover, the price is above its 20 and 50 period moving average (respectively at 83.53 and 83.51).

Supports and resistances

83.82 **

83.76 *

83.71 **

83.66

83.54 last

83.46

83.42 **

83.33 *

83.28 **

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