USD/TWD may fall 88 - 118 pips

Our pivot point is at 32.634.

Our preference

Eye 32.470.

Alternative scenario

The upside breakout of 32.634, would call for 32.685 and 32.716.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under its 20 period moving average (32.595) but above its 50 period moving average (32.587).

Supports and resistances

32.716 **

32.685 *

32.634 **

32.613

32.588 last

32.500

32.470 **

32.439 *

32.408 **

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