USD/TWD may rise 178 - 255 pips

31.847 is our pivot point.

Our preference

The upside prevails as long as 31.847 is support.

Alternative scenario

Below 31.847, expect 31.717 and 31.639.

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 31.943 and 31.924).

Supports and resistances

32.376 **

32.298 *

32.220 **

32.143

31.965 last

31.899

31.847 **

31.717 *

31.639 **

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