USD/TWD may fall to 31.512 - 31.782

Our pivot point stands at 32.837.

Our preference

The downside prevails as long as 32.837 is resistance.

Alternative scenario

Above 32.837, look for 33.292 and 33.563.

Comment

The RSI is below its neutrality area at 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 32.655 and 32.515).

Supports and resistances

33.563 **

33.292 *

32.837 **

32.658

32.460 last

31.782

31.512 **

31.243 *

30.973 **

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