USD/TWD may rise 84 - 115 pips

Our pivot point stands at 32.782.

Our preference

As long as 32.782 is support look for 32.954.

Alternative scenario

The downside breakout of 32.782 would call for 32.730 and 32.699.

Comment

The RSI is above 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the pair is trading under its 20 period moving average (32.841) but above its 50 period moving average (32.805).

Supports and resistances

33.016 **

32.985 *

32.954 **

32.923

32.839 last

32.803

32.782 **

32.730 *

32.699 **

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