USD/TWD may rise 79 - 109 pips

Our pivot point stands at 32.539.

Our preference

The upside prevails as long as 32.539 is support.

Alternative scenario

The downside breakout of 32.539 would call for 32.488 and 32.457.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 32.551 and 32.544).

Supports and resistances

32.754 **

32.723 *

32.692 **

32.662

32.583 last

32.560

32.539 **

32.488 *

32.457 **

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