USD/TWD may rise 97 - 134 pips

Our pivot point stands at 32.750.

Our preference

Rebound towards 32.933.

Alternative scenario

The downside breakout of 32.750 would call for 32.688 and 32.651.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and negative. The configuration is mixed. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 32.807 and 32.819).

Supports and resistances

33.008 **

32.970 *

32.933 **

32.896

32.799 last

32.775

32.750 **

32.688 *

32.651 **

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