USD/TWD may fall 99 - 147 pips

Our pivot point is at 32.013.

Our preference

The downside prevails as long as 32.013 is resistance.

Alternative scenario

The upside breakout of 32.013, would call for 32.094 and 32.142.

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 31.988 and 31.984).

Supports and resistances

32.142 **

32.094 *

32.013 **

31.982

31.945 last

31.846

31.798 **

31.750 *

31.702 **

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