USD/TWD may fall 71 - 102 pips

Our pivot point stands at 32.602.

Our preference

The downside prevails as long as 32.602 is resistance.

Alternative scenario

The upside breakout of 32.602, would call for 32.653 and 32.684.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 32.581 and 32.586). Finally, the USD/TWD is trading below its lower Bollinger band (standing at 32.548).

Supports and resistances

32.684 **

32.653 *

32.602 **

32.581

32.545 last

32.474

32.443 **

32.412 *

32.381 **

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