USD/TWD may fall 100 - 149 pips

Our pivot point stands at 32.234.

Our preference

The downside prevails as long as 32.234 is resistance.

Alternative scenario

Above 32.234, look for 32.316 and 32.364.

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 32.191 and 32.200).

Supports and resistances

32.364 **

32.316 *

32.234 **

32.202

32.160 last

32.060

32.011 **

31.963 *

31.914 **

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