EUR/INR may rise 215 - 318 pips

Our pivot point stands at 89.432.

Our preference

The upside prevails as long as 89.432 is support.

Alternative scenario

The downside breakout of 89.432 would call for 89.259 and 89.156.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 89.539 and 89.503). Finally, the EUR/INR has crossed above its upper Bollinger band (89.606).

Supports and resistances

90.143 **

90.040 *

89.937 **

89.834

89.619 last

89.500

89.432 **

89.259 *

89.156 **

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