USD/TWD may fall 86 - 129 pips

Our pivot point is at 32.477.

Our preference

The downside prevails as long as 32.477 is resistance.

Alternative scenario

Above 32.477, look for 32.549 and 32.592.

Comment

The RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 32.387 and 32.410).

Supports and resistances

32.592 **

32.549 *

32.477 **

32.448

32.352 last

32.266

32.223 **

32.180 *

32.137 **

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