USD/TWD may fall to 31.350 - 31.594

Our pivot point stands at 32.503.

Our preference

The downside prevails as long as 32.503 is resistance.

Alternative scenario

Above 32.503, look for 32.914 and 33.158.

Comment

The RSI is below 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 32.265 and 32.230).

Supports and resistances

33.158 **

32.914 *

32.503 **

32.341

32.160 last

31.594

31.350 **

31.107 *

30.863 **

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