USD/TWD may rise 126 - 169 pips

Our pivot point stands at 32.617.

Our preference

The upside prevails as long as 32.617 is support.

Alternative scenario

The downside breakout of 32.617 would call for 32.544 and 32.501.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 32.687 and 32.673).

Supports and resistances

32.965 **

32.922 *

32.878 **

32.835

32.709 last

32.645

32.617 **

32.544 *

32.501 **

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