USD/TWD may fall 163 - 241 pips

Our pivot point stands at 32.070.

Our preference

The downside prevails as long as 32.070 is resistance.

Alternative scenario

Above 32.070, look for 32.200 and 32.278.

Comment

The RSI is below 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the price stands below its 20 and 50 period moving average (respectively at 31.945 and 31.952).

Supports and resistances

32.278 **

32.200 *

32.070 **

32.018

31.925 last

31.762

31.684 **

31.606 *

31.529 **

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