USD/TWD may rise 117 - 165 pips

Our pivot point stands at 31.829.

Our preference

Rebound.

Alternative scenario

Below 31.829, expect 31.748 and 31.700.

Comment

The RSI is above 50. The MACD is above its signal line and negative. The MACD must break above its zero level to trigger further gains. Moreover, the price is trading above its 20 period moving average (31.913) but under its 50 period moving average (31.932).

Supports and resistances

32.192 **

32.144 *

32.096 **

32.048

31.931 last

31.860

31.829 **

31.748 *

31.700 **

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