USD/TWD may rise 96 - 144 pips

Our pivot point stands at 31.893.

Our preference

The upside prevails as long as 31.893 is support.

Alternative scenario

The downside breakout of 31.893 would call for 31.812 and 31.764.

Comment

The RSI is above 50. 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 31.942 and 31.914).

Supports and resistances

32.196 **

32.148 *

32.100 **

32.052

31.956 last

31.924

31.893 **

31.812 *

31.764 **

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