USD/TWD may rise 92 - 132 pips

Our pivot point is at 32.212.

Our preference

Rebound.

Alternative scenario

The downside breakout of 32.212 would call for 32.145 and 32.105.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above its 20 period moving average (32.259) but under its 50 period moving average (32.271).

Supports and resistances

32.480 **

32.440 *

32.400 **

32.360

32.268 last

32.239

32.212 **

32.145 *

32.105 **

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