USD/TWD may fall 60 - 90 pips

Our pivot point is at 32.794.

Our preference

The downside prevails as long as 32.794 is resistance.

Alternative scenario

Above 32.794, look for 32.844 and 32.874.

Comment

The RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 32.773 and 32.769).

Supports and resistances

32.874 **

32.844 *

32.794 **

32.775

32.724 last

32.664

32.634 **

32.604 *

32.574 **

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