USD/TWD may rise 75 - 108 pips

32.481 is our pivot point.

Our preference

As long as 32.481 is support look for 32.645.

Alternative scenario

The downside breakout of 32.481 would call for 32.426 and 32.394.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 32.514 and 32.476).

Supports and resistances

32.709 **

32.677 *

32.645 **

32.612

32.537 last

32.502

32.481 **

32.426 *

32.394 **

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