USD/TWD may rise 168 - 246 pips

Our pivot point stands at 31.815.

Our preference

The upside prevails as long as 31.815 is support.

Alternative scenario

The downside breakout of 31.815 would call for 31.685 and 31.607.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 31.900 and 31.855).

Supports and resistances

32.336 **

32.258 *

32.180 **

32.102

31.934 last

31.867

31.815 **

31.685 *

31.607 **

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