USD/TWD may rise 103 - 142 pips

32.383 is our pivot point.

Our preference

The upside prevails as long as 32.383 is support.

Alternative scenario

The downside breakout of 32.383 would call for 32.318 and 32.279.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 32.420 and 32.423).

Supports and resistances

32.672 **

32.633 *

32.594 **

32.555

32.452 last

32.409

32.383 **

32.318 *

32.279 **

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