USD/TWD may fall 81 - 118 pips

32.755 is our pivot point.

Our preference

The downside prevails as long as 32.755 is resistance.

Alternative scenario

The upside breakout of 32.755, would call for 32.817 and 32.854.

Comment

The RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 32.740 and 32.733).

Supports and resistances

32.854 **

32.817 *

32.755 **

32.730

32.693 last

32.612

32.575 **

32.538 *

32.501 **

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