USD/TWD may rise 82 - 114 pips

Our pivot point stands at 32.565.

Our preference

The upside prevails as long as 32.565 is support.

Alternative scenario

The downside breakout of 32.565 would call for 32.511 and 32.479.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 32.589 and 32.555).

Supports and resistances

32.802 **

32.770 *

32.738 **

32.706

32.624 last

32.586

32.565 **

32.511 *

32.479 **

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