USD/TWD may rise 79 - 118 pips

Our pivot point stands at 32.245.

Our preference

The upside prevails as long as 32.245 is support.

Alternative scenario

The downside breakout of 32.245 would call for 32.179 and 32.140.

Comment

The RSI is above its neutrality area at 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 32.284 and 32.252).

Supports and resistances

32.505 **

32.467 *

32.428 **

32.389

32.310 last

32.270

32.245 **

32.179 *

32.140 **

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