USD/TWD may rise 169 - 249 pips

Our pivot point stands at 32.035.

Our preference

The upside prevails as long as 32.035 is support.

Alternative scenario

The downside breakout of 32.035 would call for 31.900 and 31.821.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is above its 20 and 50 period moving average (respectively at 32.141 and 32.138).

Supports and resistances

32.563 **

32.483 *

32.403 **

32.323

32.154 last

32.087

32.035 **

31.900 *

31.821 **

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