USD/TWD may fall 112 - 159 pips

Our pivot point stands at 31.913.

Our preference

Technical rebound towards 31.913 before a new drop.

Alternative scenario

Above 31.913, look for 31.994 and 32.042.

Comment

The RSI is above 50. The MACD is above its signal line and positive. The configuration is positive. Moreover, the price is trading above its 20 period moving average (31.790) but under its 50 period moving average (31.841).

Supports and resistances

32.042 **

31.994 *

31.913 **

31.882

31.823 last

31.711

31.664 **

31.616 *

31.568 **

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