USD/TWD may fall to 30.829 - 31.161

32.450 is our pivot point.

Our preference

The downside prevails as long as 32.450 is resistance.

Alternative scenario

Above 32.450, look for 33.010 and 33.344.

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 32.501 and 32.492). Finally, the USD/TWD has penetrated its lower Bollinger band (31.926).

Supports and resistances

33.344 **

33.010 *

32.450 **

32.230

31.901 last

31.161

30.829 **

30.498 *

30.166 **

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