EUR/INR may rise 185 - 278 pips

Our pivot point stands at 89.292.

Our preference

Our next up target stands at 89.692.

Alternative scenario

The downside breakout of 89.292 would call for 89.136 and 89.044.

Comment

The RSI is above its neutrality area at 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 89.404 and 89.375).

Supports and resistances

89.877 **

89.784 *

89.692 **

89.599

89.414 last

89.353

89.292 **

89.136 *

89.044 **

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