USD/TWD may fall 145 - 175 pips

Our pivot point is at 32.715.

Our preference

As long as 32.715 is resistance look for 32.466.

Alternative scenario

The upside breakout of 32.715, would call for 32.765 and 32.795.

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 32.647 and 32.665).

Supports and resistances

32.795 **

32.765 *

32.715 **

32.696

32.641 last

32.496

32.466 **

32.437 *

32.407 **

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