USD/TWD may fall 66 - 95 pips

Our pivot point is at 32.900.

Our preference

As long as 32.900 is resistance look for 32.745.

Alternative scenario

Above 32.900, look for 32.951 and 32.980.

Comment

The RSI is below its neutrality area at 50. The MACD is above its signal line and positive. The break above the 50 area on the RSI would call for further upside. Moreover, the price stands below its 20 and 50 period moving average (respectively at 32.844 and 32.845).

Supports and resistances

32.980 **

32.951 *

32.900 **

32.881

32.840 last

32.774

32.745 **

32.715 *

32.685 **

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