USD/TWD may fall to 30.160 - 30.696

Our pivot point stands at 32.694.

Our preference

The downside prevails as long as 32.694 is resistance.

Alternative scenario

Above 32.694, look for 33.599 and 34.139.

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 is trading under both its 20 and 50 period moving average (respectively at 32.355 and 32.412).

Supports and resistances

34.139 **

33.599 *

32.694 **

32.338

31.950 last

30.696

30.160 **

29.625 *

29.089 **

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