USD/TWD may rise 213 - 292 pips

31.871 is our pivot point.

Our preference

Rise to 32.267.

Alternative scenario

The downside breakout of 31.871 would call for 31.738 and 31.659.

Comment

The RSI is below its neutrality area at 50. The MACD is positive and above its signal line. The break above the 50 area on the RSI should trigger further gains. Moreover, the pair is trading under its 20 period moving average (31.980) but above its 50 period moving average (31.973).

Supports and resistances

32.425 **

32.346 *

32.267 **

32.188

31.975 last

31.923

31.871 **

31.738 *

31.659 **

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