USD/TWD may rise to 33.341 - 33.642

Our pivot point stands at 32.204.

Our preference

As long as 32.204 is support look for 33.642.

Alternative scenario

The downside breakout of 32.204 would call for 31.701 and 31.401.

Comment

The RSI is above its neutrality area at 50. The MACD is positive and below its signal line. The pair could retrace. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 32.622 and 32.427).

Supports and resistances

34.244 **

33.943 *

33.642 **

33.341

32.680 last

32.402

32.204 **

31.701 *

31.401 **

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