USD/TWD may rise 92 - 130 pips

Our pivot point stands at 32.802.

Our preference

The upside prevails as long as 32.802 is support.

Alternative scenario

The downside breakout of 32.802 would call for 32.740 and 32.702.

Comment

The RSI is above its neutrality area at 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 32.826 and 32.806).

Supports and resistances

33.069 **

33.032 *

32.995 **

32.957

32.865 last

32.826

32.802 **

32.740 *

32.702 **

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