USD/TWD may rise 101 - 137 pips

Our pivot point stands at 32.245.

Our preference

The upside prevails as long as 32.245 is support.

Alternative scenario

Below 32.245, expect 32.186 and 32.150.

Comment

The RSI is above 70. It could mean either that the pair is in a lasting uptrend or just overbought and therefore bound to correct (look for bearish divergence in this case). 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 32.248 and 32.205).

Supports and resistances

32.535 **

32.499 *

32.464 **

32.428

32.327 last

32.269

32.245 **

32.186 *

32.150 **

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