USD/TWD may rise 99 - 132 pips

Our pivot point stands at 32.445.

Our preference

Rebound towards 32.637.

Alternative scenario

The downside breakout of 32.445 would call for 32.391 and 32.358.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and above its signal line. The configuration is mixed. Moreover, the price stands below its 20 and 50 period moving average (respectively at 32.529 and 32.568).

Supports and resistances

32.701 **

32.669 *

32.637 **

32.604

32.505 last

32.466

32.445 **

32.391 *

32.358 **

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