USD/TWD may rise 93 - 130 pips

Our pivot point is at 32.724.

Our preference

Our next up target stands at 32.909.

Alternative scenario

The downside breakout of 32.724 would call for 32.662 and 32.625.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and negative. The MACD must break above its zero level to call for further upside. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 32.763 and 32.772).

Supports and resistances

32.983 **

32.946 *

32.909 **

32.872

32.779 last

32.749

32.724 **

32.662 *

32.625 **

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