NZD/INR may rise 20 - 29 pips

Our pivot point stands at 50.51.

Our preference

Rebound towards 50.92.

Alternative scenario

Below 50.51, expect 50.36 and 50.27.

Comment

The RSI is below 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 50.64 and 50.76).

Supports and resistances

51.09 **

51.01 *

50.92 **

50.83

50.63 last

50.57

50.51 **

50.36 *

50.27 **

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