USD/TWD may rise to 33.325 - 33.880

Our pivot point is at 31.322.

Our preference

Rebound.

Alternative scenario

The downside breakout of 31.322 would call for 30.395 and 29.843.

Comment

The RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to trigger further gains. Moreover, the price stands above its 20 period moving average (32.057) but below its 50 period moving average (32.362).

Supports and resistances

34.989 **

34.435 *

33.880 **

33.325

32.189 last

31.686

31.322 **

30.395 *

29.843 **

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