USD/TWD may fall 98 - 129 pips

Our pivot point stands at 32.613.

Our preference

The downside prevails as long as 32.613 is resistance.

Alternative scenario

The upside breakout of 32.613, would call for 32.667 and 32.698.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 32.574 and 32.608).

Supports and resistances

32.698 **

32.667 *

32.613 **

32.592

32.548 last

32.450

32.419 **

32.387 *

32.355 **

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